At the mid-point of the week and things so far are looking pretty good for the market. We had a nice healthy sell-off yesterday, that was quickly washed away by today’s rally. In all honesty, the market might have been better off without the hard rally today, and rather I would have been more excited to see a little more downward pressure in order that I might be able to grab some stocks on the cheap side. At this point, I would be thrilled with some consolidation, it just seems that making money in this market to the long-side is getting relatively easy and predictable, and when that occurs, usually there is a change in direction ahead.
As for my portfolio, the only change that I will be making is in DDM, the ProShares Ultra Dow30 ETF, where I will be raising my stop-loss to 43.47
Here are the NASDAQ and S&P Charts…
