Cobra's Market View

Up 5 weeks in a row means 45% chances up again the next week and 68% chances higher high the next week.

From "It is what it is department" Key focus Out side of K-Band. Short term I am expecting sideways to down, to mid band or 20 DMA to relief buying pressure before continuation of a rally. I will take it as another overbought and excessive move that need correction. so.....going into early part of the week I will find excuse to sell intraday like I have in the past week (Honey Hole), for day trade gap up overnight does't change that mind set, only fair correction will bring in more intraday buyers, until then scalping it down is better R/R than to buy in at this level.
The market can stay irrational longer than you can stay solvent,Keynes. For me it's Bears scalping heaven out side the band.The $NYMO is weakening, until a regain above the zero line will bull be in full control once again.Short term swing on trend following there is nothing to worry about, over bought but no bearish reversal to call out to just yet. Day trade, Cash SPX pivot is siting on 3091. Monday before market open will be easy to tell if the pump up will continue or not. I am leaning bearish into next week on overbought and internals weakening. stick to your time frames and Trade well, Peace!