Pull-Back Tomorrow?

Today was pretty much a draw between the bulls and the bears.  Looking at the SPX on the daily, I am expecting a pullback this week, so I added to my short hedge in the TZA at the end of the day.

I am not inclined to start any new longs until the SPX on the weekly gets closer to the 50 week moving average.  I am at peace with the idea that I may miss the last few points of this rally before a correction of some significance comes.

I am holding some longs (about 25% of my portfolio) and letting them work with stops in place.  Most of my portfolio is cash.

 

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