Going flat SPX remaining short. Small profits are better than big losses.
XLF is ripping higher and giving SPX a boost. I am not sure I want to reverse and chase it higher here. I am too skeptical of this advance above 1166 gap fill to wrap my mind around a new long. This said, if we do not go below 1150 on pullback, we may have seen the successful retest. Buy the pullbacks is now the name of the game. It is funny how things flip flop on a dime. I wanted to see a print below 1100, just to say we have had a retest. One may still be coming - all we need is a credible denial of EFSF leverage. I am going to observe this action while staying flat.
Do not fight, do no harm to your account.
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