we wanted to point out a few key points in the S&P 500 chart that readers of this blog know quite well by now:
1) The GAP we have been highlighting the past two weeks worked out perfectly as resistance. No one should be surprised by the action today
2) The SRS trade allowed our portfolio to be hedged very well, along with selling a few of the recent picks as they broke below the 50 day MA
3) the ADX line is very close to crossing to negative which will cause the market to be in for a rough patch going forward (easy money...not so much anymore)
4) we still like STAR and LOOP and will hold them until they start to crack.
Trade well,
Trader D
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