Long.
Shorted R2K for a hedge yesterday but covered at the close for a few points. May reload today.
My composite trend signal is up.
My summation index signal is down for the R2K and neutral for everything else. It will flip to negative for the SPX and NDQ on a break of Monday's low or a close below yesterday's low.
Sticking to hit and run hedging tactics for now as we climb higher into the thin air.
I would like to be getting neutral or short here and holding (particularly given the state of my summation signal) but fighting this trend has been a loser. Timid bear...
Oddly, my McClellan Oscillator data has been negative long enough to start looking for a rebound.
In fact, any kind of sizeable down day would probably render it oversold.
Tomorrow and Friday could be movers one way or another or both.
We have 3 central bank policy updates (BoJ, BoE and ECB). I am most interested in what Japan does.
Also, I think Friday is a non-farm payroll day.
I have no clue what the news will be or how the market may react to the news.
I'll probably go in to it net long with some protective stops.