Shine on you Crazy Diamond

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

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About thefront9

Independent trader with a flexible approach to the markets. Position trading, swing trading and day trading using Futures, Equities and Options. This site is intended to help others (and myself) see what I see and to stay true to the discipline of making trades at the extremes. Contrarian and TastyTrade addict! Living in Texas with my family, helping others and maybe playing some golf from time to time makes life busy and great. Add a little music and humor and that just about sums it up. Trade the extremes and manage risk.....always!
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