our near-term works on price structure and momentum suggested strongly that the bulls are still in control of the market. However, given the heavy overhead resistance near the important sentiment 4000 mark, there is no big commitment to accumulate stocks aggressively at this point. What this means is that as the S&P inches into the area of key overhead resistance, aggressive sellers will most likely dips in their toes to see how the market reacts. As for strategy, we’d look to increase upside exposure into short-term market dips rather than chasing breakouts
↧