Happy Friday

we must recognize the possibility yesterday was a false breakout or bull trap – a new high that suckers in late-to-the-party bulls before the selling begins.

April is in the books, so the end of the traditionally strong Nov – Apr time period has come true this year,again.

Now I’m not very comfortable holding long when the overall trend is down and the market has rallied 30% off it lows. I’m just being a little cautious during the grinding period.

I’m still of the opinion we have a big move coming. A squeeze that gets us well into the 900s or a sell-off that puts us back near 800. Don't gamble on it.