S&P’s Grinding Higher – Opportunity For Long & Shorts

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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Author

Dave Floyd

Aspen Trading Group

If he lived anywhere but Central Oregon, where the trails of the Cascades mingle with the warm sunshine and fresh air of the high desert, Dave Floyd would probably be one of those guys who lives and breathes trading and analysis 24/7.

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