The S&P 500 futures market showed strong buying although volume was n't particularily convincing coming in at the 50 day moving average. The S&P 500 made multi-year highs in the last session and has refused to sell off in the last dozen or so sessions in any major way. The market is overbought here and is ready to pull back. Sell 1330 with a 1/2 position. Be in a financial position to short again 1350 should we run again. This trade could last 2 days or a few weeks so be prepared for a disciplined trade using solid cash management.
