The Market Is Setting Up a Different Move

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This is the first time we have seen follow-through in the markets in a while.

That should be telling and it looks as though we are finally setting up for a pullback.

We have entered the August 5 gap and now look set to fill it and some more.

A good check back in a healthy market would be to pull back to around the 50 day moving average or around 213 in SPY.

Its only a couple of percentage points below here, but picking up that kind of alpha is what I like to do.

I am selling down my longs here and looking to buy back lower.