The S&P 500 now looks as if it is trying to break out of basically an ascending triangle. We’ll see what happens, but on a short-term pullback, I’m more than willing to jump in here and buy as well because we still look very bullish, and it’s worth noting that recently we have been very noisy and very choppy. But notice how every time we drop, it gets a little bit higher low forming and that tells me that more pressure is building to the upside, and eventually it should resolve in a breakout.
Will we do it on Friday? Probably not. I think we have a little bit of distance to cover, but clearly, on signs of negativity, it looks like people are willing to step in and take advantage of cheap contracts.
Source: Original Article
