My long gap fade this morning failed miserably. After I stopped out, I noticed some areas of resistance around the highs yesterday. Interesting. Maybe this rally is done. Who knows, but Adam Hewison has an interesting video about where we sit right now in the market. Here's what he Adam says:
"We owe trillions of dollars, but Crude oil is at $86 a barrel, the DOW, S&P, and NASDAQ are making new highs almost everyday and unemployment is officially at 9.7%.
Everything is great! Happy days are here again... Right?
So is the DOW, S&P, and NASDAQ all going to keep going higher forever? Or are the teachings of a dead mathematician going to reverse this juggernaut of a market?"