....that's right! I've got a feeling, it's called an assumption. But I am not going to tell you what it is because I would not want to bias you on yours. Everybody has an assumption even if that assumption is that there are no assumptions to have. And I want you to find your own. But having an assumption is only worth having if you act upon it. So what's in your wallet? Trade to trade well with patience, persistence and passion. J.R.
Daily: the SPX jumped up 13 points through the week but the last two days action only netted a one point gain since my last wrap. all else looks the same.
Weekly: the momentum shown by the MoBo is still green and the action is riding on the top rail but that one point move almost gave us a doji. Feel some hesitation?
Monthly: still have a full figured body on this candle but have a nice size wick on the top. If that gets lit that candle could melt very quickly.
Weekly VIX: kissed into the sweet sixteens but also smacked its head on the 20. Any action above the 20 could start a much needed correction for the more recent rally to keep things in perspective.
Targets:
TR1 1345
TR2 1370 - 1381
TS1 1300
TS2 1260
POI 1313
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