Dave Floyd
Aspen Trading Group
Good day traders.
The S&P's continue to grind higher....certainly not too surprising. While I thought a pause was in order, hence the 2848 sell-stop orders, that may not play out. Still too early to know.
Based on the early price action here this AM, it suggests we could see prices move a bit higher towards 2865-2889. However, as is typical in 5th waves, momentum is declining, so this move may be a bit labored.
I am in observation mode here. No need to rush anything especially on the heels of the +36 point winner in the S&P's closed earlier this week.
If anything, I might consider raising the sell-stop to 2852....stay tuned.
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