The S&P 500, (NYSE:SPY) continues to grind higher as record options positions keep the market “pegged” near its highs. Bearish power continues to build , and we are waiting to take on some short exposure, but need to see a confirmation in the form of a bearish reversal pattern.
The gold ETF (NYSE: GLD) has begun the pullback we forecast, and we are watching for a possible long entry as price reaches down into the $120’s.
This remains a time of extremes. Record options positions have locked the markets in a tight range, the political risks are extreme, and the opportunities are limited. The great benefit of the 3D Apex Predictive Failure Technology™ is that it offers us a clear picture of the odds for success or failure BEFORE we get involved in a trade and get stuck.
I have never seen so many “NO!” signals in my life, and am patiently waiting until the market “season” changes to allow for a series of low risk/high odds trades to show themselves again.
Bo Yoder
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