I commence with my gratitude to The Ultimate KnowerPlease look at the chart enclosed. If you ignore the out of the ordinary long volume bar, the volume is dropping, while price is going higher. An hourly inverted hammer at decreade volume, with and 50% retracement. The best and prudent strategy is selling right here and with stops at above the HOD.
I received an email, questioning my bearish stance, what if I am wrong!
Yes, I have been wrong before, (less times that I've been right :-)
The Only way market can get out of this JAM, is to gap above the SPX 1,299 level. Otherwise, it shall pull back hard.
