no clear signalNo clear signal yet in terms of what direction this market wants to go in. I thought with the overnight bullishness that we were seeing that the market was setting itself up for another big run. But by the time the market had rolled around, that strength had quickly evaporated. 

I’m looking to add one new position to the portfolio today, and, as the lunch hour rolls around here, the market is finally acting like it might want to make a move. The bulls are not out of the woods here, but it is definitely off the lows. 

The key price level to watch today is 1555 or the bulls and then 1538 for the bears, the former we are actually testing at this moment. Those two levels will help to dictate the day’s direction heading into the afternoon. 

The key here is to not get overly excited and get too hot and heavy to the long side, particularly with new positions today. That is why I don’t plan on adding more than one position in total today. 

Stay nimble my friends

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