Had to throw this one in as the markets shined today, breaking that logjam range of 1122-1131 with a close higher. Why, I have no idea. Feels like they’re taking ’em up so they can take ’em down, but we will see how and if that comes to pass any time soon.
AAII sentiment shows bullishness at this point nearly as high as the October 2007 peak, yet we are 400 pts. below that level. Enjoy the ride, BUT be on your toes. Crazy stuff like Fall Equinox, Full Moon and the fact that it’s September make me wary of this move.
Thanks to Jeff Cooper for some of the above info.
Pivots for Tuesday:
- R2 – 1154.50
- R1 – 1145.25
- Pivot – 1131.50
- S1 – 1122.25