Market is looking ready for an end of day run in my honest opinion. There is a good possibility that it will trap those who went short under 134.90 (20ma). That is my perspective. All it needs to do is go over 135.17 with some serious volume, and catch everyone off guard. If it doesn’t then I will reset everything and start fresh next week.
I also know that the current direction that the market wants to take is down, but it never comes when we really want. there is a lot of confusion since we were sitting on overbought levels according to the McClellan Oscillator.
May you all enjoy your weekend.
