We were a bit too pessimistic in last night's analysis, as good news flow came in and the zombie buyers were on the loose.
Trades of the day, if missing getting long near the open, were to pounce on VWAP pullbacks, and also the mid-session continuation coil -- and run for the hills after a few points. Not massive points, but good solid edge and structure.
It's going to take some negative news to come in, or else the target for this market is the daily all time highs.
But volume totally imploded again today. This just does not feel like a young auction off of swing lows. And with the Fed tomorrow, I don't trust this market.
I am frankly biased that this rally is going to fail.
I'll ride it up, but will be ready to pounce if Big Red wants to come knocking.
Onto our analysis:
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