Well not that much to add - the markets has continued drifting higher and is still in an extremely overbought condition with ISEE index above 300 and put/call ratios telling that downside should come. However markets been ignoring everything. What I learned is to wait for markets to confirm a move down in markets before making any entrys, but for now I am stuck in shorts and I still believe a pullback is comming at least to 1180 area. Time will tell if we are going to see 1291 SPX before any move down , but all I can say that everything is still pointing down cause we are at extremes of extremes in overbought conditions (I know we can stay here like we have done last 2 weeks). But if technical analysis works then its much more likely we are going to have a move down near term with everything so overbought.....
Have a nice day
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