After a week of dithering around, the bulls have finally grabbed the baton and are rushing down the track. At this point, it seems that the long-cited target of 3900 (more precisely, 3906) on the S&P 500 Futures is on the horizon:
S&P 500 Futures 30-Minute Chart.
The Nasdaq 100 Futures is similarly making a run for its former failure point:
NASDAQ 1-Hour Chart.
As for my own portfolio, I have gone shrieking off in the opposite direction:
- Trimmed positions from 39 to 28;
- Raised cash from 0% to 33%;
- Got rid of my final September option, which means nothing expires before Oct. 21, 2022;
- Back to “wait and see” mode for new opportunities, since I think I’m going to step aside for this bounce.