Mr. B with a short post as I am getting ready to hit the road.
NYMO still hanging out below zero.
It really doesn't like it when price is above the pink line.
That said, it feels like it may be saving up energy for a push up.
Price looks ready to close the gap at SPX 2783.30.
Interestingly, further below, the 200 MA, the middle keltner and the 50 MA are all converging around 2755ish.
I have been day dreaming about an ascending wedge.
We may be in C of an ABC down now.
If we close the 2783.30 gap with a positive NYMO divergence or hit some solid support below, I will be looking for a final ABC up before the wedge breaks down.
It's just a day dream though. I don't know what will happen.
My SPX long runner last week was stopped out at breakeven.
I am currently short SPX and R2K.
I have taken profit scales in both, but I am not quite risk free on the position yet.
I don't have great hopes for these trades because I think there is some more back and forth before the next big trend, but Mr. Market never sends me a memo telling me which moves are going to turn into a nice trend.