Market Journal: Tactical Signals
A couple of key short-term indicators suggest near-term pullback before that rally into July 19.
Discussion
Back on June 26 I highlighted a couple of signals from two good Twitter follows that suggested SPX was likely to retest its June 16 high. One of those (Keith) is currently flashing a short-term sell signal. Also, some interesting near-term “gamma” positioning. So, perhaps a 1-3% pullback before basing and moving higher into that July 19 opex period.