Slope of Hope had the strongest traffic in many, many weeks today, and I suppose it's a combination of post-holiday normalcy and the fact the market is starting to get pushed around by the bears some.
I've got 75% of my cash deployed into positions, and the most important thing that could happen to this market right now is to break out of the range it's been in for pretty much for all of 2010. A break below 1114.81 would be the start of something new.
Let's take a look at the /ES upside down:
I want to own as much of the above as I can (a "dip" to the 1140s would make it even more appealing). I like how it's basing (or, more accurately, topping).
That's it for me today. See you in the morning.
