There is an important breakout “Trade” line in the SP500 at 839, and you saw some serious pin action around that line today – first on the breakout above it, then on the breakdown intraday below it – we have outlined that line as the dotted green one in the chart below.
Aggressively buying/covering on the SP500 811 line is my game plan. Hopefully, we get a real nasty jobless claims number before the open tomorrow that can take us there. What is bad for the buck is good for stocks.
Keith R. McCullough
CEO & Chief Investment Officer