I said it was likely happening this week, and we are Wednesday. The Nasdaq has now hit an intraday all time high. Expect a chop from now until the end of summer. The IWM is not participating as much but I feel the SPX and NDX are up enough that the big boy bids put in for vacation will hold the market up for the next few months.
Once the 200 day MA was taken back my view shifted in real time and this was confirmed with the pullback and hold within days after the overtaking of the 200 MA. From that point you just hold long until another mega bearish divergence appears and volatility returns. Is it possible it returns over the summer? Definitely , so stay on your toes!
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