I can’t help but notice that S&P 500 Futures (ESM4) are up 8 consecutive weeks in a row and up 11 straight days. Over the next 48hrs, the market will digest two important data points (ECB & Jobs Report). Clearly, in the short term we are extended to the upside and a light volume pullback would do wonders to restore the health of this very strong uptrend. It begs the question, are we setting up for a buy the rumor, sell the news event in the days ahead?
Firm Has Positions in ESM4 & SPY