Columbus Day

Well, I’d be surprised if we get trading anywhere near an extreme valuation today, either high or low.  Columbus Day is here and bond markets are closed.

However, I am looking for a weekly top this week and for a sign that a pause and/or minor correction is in the cards.  This unbelievable run reminds me of the March ’09 bottom, but even then there were pauses.

The key is the dollar, of course.  Tagged a new low this morning at 77.05 but it’s holding firm so far.  Either way, S&P futures could run to 1175 before giving up a bit, and that’s what I’m looking for.

Daily Pivots (positive bias)

  • R2 –  1,175
  • R1 –  1,167
  • Pivot –  1,157
  • S1 –  1,149

Have a good day and trade the extremes!

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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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