Up a little PM ... 5 and 15min technicals say we pull back at the open.. my target for that pullback is
1.395
2. Blue trendline or 393.50
I wouldn't go Long at the open.
Something I didn't mention before but I think is very relevant is the gap on QQQ at 287.. I think they will want to close that this week sometime; This would possibly mean the spy retesting 399-400.
In the large scheme of things , that's only a 1% leg higher so if you have time on your contracts don't panic but if you like to Day trade shorter dated contracts, keep this in mind when swinging short this week.
1.395
2. Blue trendline or 393.50
I wouldn't go Long at the open.
Something I didn't mention before but I think is very relevant is the gap on QQQ at 287.. I think they will want to close that this week sometime; This would possibly mean the spy retesting 399-400.
In the large scheme of things , that's only a 1% leg higher so if you have time on your contracts don't panic but if you like to Day trade shorter dated contracts, keep this in mind when swinging short this week.
