The market is smoking hot today. There are two camps and here is where they stand:
Camp #1: Believe 875 is the near top and are selling selling most of their long and getting net short
Camp #2: Believe 875 will be new support and believe we can go to 900-930 on the S&P.
I am waiting close til 3:30-4 until I decide what I will do. Many money managers are trying to make their month, so they are determining which we the market will go and drive it harder, either way. If you have big profits, I would take some off the table here to be safe.
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