Market Update on SPX500 3/15/2018

Here is the 15m chart of the S&P 500 including overnight data. We had a lot of fun trading this roller coaster this week and we are targeting tomorrow as a potential 'waterfall' moment. The missing ingredient was that we needed to see today trade in a flat range basically burning time off the clock and that is precisely what we got. So what is next?

At the minimum it will take out prior swing low and then we will see what price action is telling us. Not many traders out there are thinking tomorrow will be bullish and if all traders big and small are thinking the same thing then we will likely see a self-fulfilling prophecy. But it is also possible that other traders are lying to us and they have inside info that the market will surge to an ATH.

I think cash float will come into play. I think the bulls are out of ammo and are operating on wishes, fumes, bubble gum, chicken wire, and duct tape. Let us see if that turns out to be true. Tick tock, tick tock not many hours left before the markets open again...