Further upside is anticipated, target is sp'1445/50, probably sometime around Tue-Thursday.
IWM'60min
Dow'60min
Sp'60min
Summary
As permabear, it is often too sickening to go long, so even though I expected today's move I did not go long. However, at least I got out of the way of this freight train, and was not short. If I could see this snap higher coming -as bearish as I am, it is surprising to see so many who did not. You won't see many finer examples of a bullish pennant, with the bollinger bands super tight.
Tomorrow could open a little lower, but regardless of what the open is, I sure won't be getting involved until later next week. Re-shorting around 1445 would be a very nice level to get back on the doom train.
More across the evening.