Friday, June 19, 2015

Jun 19 - Consolidation for more upside or another pullback going into post OPEX week?

Consolidating after yesterday's strong move.  Unclear whether we move to ATH but IWM has already done so and QQQ is very close to doing so which puts things in a risk on environment for the moment.  If we weren't heading into one of the most bearish post OPEX weeks of the year, I would be leaning more strongly bullish in the indexes.  There is a chance of a pullback after we get closer to the upper BB but at the moment I don't see anything menacing in terms of a longer term pullback.
QQQ printing a promising 10 min flag

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Jan 20 - Equities caution signal, short SPY, NFLX

Call buying has come back and very good chance of a pullback here