the market has rallied nearly 60 pts on the ES in 4 days; from June 27th to today. any longs out there should reduce positions and if you're looking to get short, this may be a good opportunity. most of the 60 pts was done on anemic volume, from there momentum traders, buy programs and end of the month/quarter window dressings continued to bid this thing up.
today is officially the last day of POMO operations, the market will be all on its own.
looking at the 1he bar chart ES should chop down to test the 1290 area.
on the daily we're looking at the SPY tagging a 51day SMA, the Bear is still on and selling the rallies is still the better play
short from 1316.5 today. we'll see how it plays out
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