Well, folks, I am rapidly reaching my personal “I can’t take much more of this crap” levels. It shouldn’t be THAT much of a surprise, honestly. The prospect of crawling above 4,000 on the S&P was quite clear, even at the depths of mid-June. At this point, what really counts is how the market treats those gaps from June 9th. I present them below, with the postulate that these represent important exhaustion levels for this month-long rally.
