Trend Continuation?

DPR Update:  New order in place, login for details

The markets very unlikely recovery yesterday has caused the system to implement a possible new trend higher.  This is one of those occasions where you look at the market and say, “no way we go higher”.  But what I think does not matter, if I only traded based on what I thought was going to happen I’d miss most of the winners and take the losses only!

So while I “think” this is probably a head fake, it’s also just as likely that the S&P 500 will breakout and head straight for 2500.  Only time will tell, but I am taking the signal as always.  My hope is that the market will come down in the futures overnight and cancel the order, but if it doesn’t it will most likely get filled at the open or close to it.

So bring on the bears if I get to stay out, and bring on the bulls if I get filled!

My best,

John