Here is your morning look:
The track is wet and sloppy.
Bulls will take to heart that last night’s Spu low will hold.
The market is in transition trying to turn from an uptrend to a near term downtrend.
With 2 back to back mid-week shuffle highs, I’m in the turning camp.
Be nimble, it will be a 2 way trade in the war between the Bulls & Bears.
mini Spu swings ill be app 25 points.
Big swings will be 80-100 points.
DJI & Nasd are higher on the year with the Spu’s right on the level.
Oil traders, beware the gap under the 50 DMA.
There is nothing for the Bulls to hang their hats on for another 4 dollars.
It needs to hold the level and bounce hard.