Echoing the thought from yesterday (here), it remains possible that we see a reversal, but I am a bit more inclined to accept the possibility that we persist in a range up here for a while. We may be defining the limits of a range now, and we may stay up here in the orange box area for a few days. I remain inclined to the view that the rally is topping out, and that the downtrend will eventually resume. So, not much I can say for the moment. I think I may open some SPY bear call spreads above us, and see how things go. But, it might get boring for a minute.
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