Waiting

The market is just sitting above all the major moving averages. This just tells me that we should continue on this uptrend. When they try to break them down there is just no one in a hurry to sell. The Bulls are in full control. Waiting for next year seems to be the trade that most traders are taking right now. If you are long this market why should you sell? I see no reason to be selling or getting short until we take out the 50 day moving average. Trade small and smart. Take minimal risk right now. No one is getting rich trading this market. If you make money in the morning, just go home and enjoy the rest of your day.

Waiting

I hate to get bearish before they take out the 200 day on the cash, but all that I have seen is selling. I believe that they take out 885.07 in the cash by the end of the day. I will be sitting on my hands until they do(if they do). My next support is 876.25 in the futures. I will not be establishing a big long position there. Just scalping off that area. Violation of that area look for the market to start selling off pretty hard down to at least 841.00 over the next day or so.