Morning folks. Market looking at a slight gap higher with spy up .4% or so premarket. Great day in the markets yesterday as you will often find when market is in pop mode we got a couple opportunities for teh market to dip sucking in over aggressive bears who are waiting to short the market but then the dip gets bought by everyone else including the folks who missed most of the rally and need to get in the market causing a nice squeeze. Even though we faded at the end a bit it was a pretty mechanical fade and didnt violate any support levels. The end of august is here and we will begin to learn if this was just a window dressing/short squeeze run or something more significant the next couple days. For now the long bias is on as we are marching up to spx 1250 which is the key level of our big breakdown. We do have some data coming out at 10am so keep an eye out and see how market reacts to it….if the data sucks and we shake it off then off to races we go again.
all stocks showing pretty much same setups. at this point we are probably a bit extended on them
