Monday, March 15, 2010

1150 ES Is the Top

I think 1150 is the top, but I believe we will revisit that area again.  Today's weakness gives a good clue that the market is topping out.  That doesn't mean we go straight down, it just means that the upside will likely be contained to 1150-1155 area.  I don't want to be short ahead of the FOMC meeting, so I will likely wait till Tuesday afternoon or Wednesday morning to get short.  But the set up is lining up for a monster drop in April.

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