Not surprisingly, everything with a ticker symbol is up right now. Since the “truce” was announced (AKA total Chinese victory, getting three months breathing room in exchange for an unspecific promise to buy some farm products from us), it’s bright-Christmas-green. What the bulls will want to see will be a steady accumulation of strength right through the close tomorrow. What the bears (if there’s any left) want to see is any kind of “fade“. In other words, if we closed up “only” 35 points on the ES tomorrow, that would be a victory. The key line is that red one. If we cross above 2824.25, the bears better apply for jobs as greeters at their local WalMart.
I am oddly not-freaked-out by this explosion. As I’ve mentioned to the point of exhaustion, I am super light (indeed, lighter than I thought; I formerly thought 39 positions, but it’s actually only 34! That’s down from 100 a couple of weeks back) amd am ready to get stopped out left and right at the opening bell. But the vast majority of my gains from October are still intact, and I will watch and wait. Bulls? Screw ’em.
