The market continued on its up trend and made new highs for the year. Nothing surprising happened today just the same old grind up trade. The market hit my resistance at131750 and traded higher up to 132000 just high enough or should I say low enough to keep in my shorts. My stop was at 132025. The market then traded lower to 131325. There never was a time today where there was a lot of selling. We closed just below my resistance at 131750. We might see some selling going into tomorrow possibly trading back down to 130950 where we left some single ticks. I put up a market profile chart up showing the single ticks. I believe that the market may consolidate up here for awhile building support in this area. I am not bearish but we may trade lower from here tomorrow because they didn't close as well as I would have liked to see. The VIX closed higher at 16.30 up 37 ticks for the day. The VIX seems to be range bound for awhile as well. Nothing exciting today as I look forward to tomorrow.
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