That is just off to the races isn't it.......
This is a 6 month daily SPX..... this current move has 139 writen all over it IMHO... maybe we sell off tomorrow and I'll be more convinced. that we are getting to the top...
I expect this to trade...
ABC upside correction(we are now in B, and maybe it will keep going down tomorrow). Then we should get the C leg up...
After that we should get a solid full day... multi day pull back.... Followed by one more solid leg up.
So....... Problem is that would be a 7 leg move since the Bear stearns low... and this is the 5th leg of that move..... so .... Maybe after our next leg up... that will be it...
We are still seeing more Acumulation than distribution......So, I'm saying we still have upside....
This is getting to be a bitch to trade....
But regardless... if we get one more leg higher and we see some nice distribution, I'd say it's time to get a little short.....
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