Interesting set up is taking place within the market. The SP500 is at its 62SMA. Historically I can argue its a resistance point. On the flip side, there are internals (key individual stocks) that would suggest we break through this point.
I will have a more detailed post over the weekend, but wanted to give a heads up. For the cowboys out there, position long. For the non-cowboys, wait and see with some profit taking to re-enter any decline from the 62SMA.
(I am already relatively heavy long, and took my positions. So now I am just waiting and watching.)
more details and clarity to come.