Possible SDA (Sharp Drop Alert) Sighting
I hesitated to post this (and didn't in my earlier report), but the potential for this is bugging me so I'm going to mention it. While the odds might favor a bit more upside, and MMI is (slightly) up for the next two days, and the MM Trend Trader's main signal is still on BUY, there is a possible SDA (sharp drop alert) for tomorrow and Friday.
I hesitate to post this because I don't want to encourage anyone to aggressively short right now, but because we just completed a "denial" pattern which is almost always followed by some type of "wake-up call" or turbulence I'm going to mention it. The formula for a SDA is overbought (per sentiment) + flatline. The market is highly overbought (> 20 on the MAM - see earlier report), and there is a relative flatline on the chart tomorrow and Friday. I put a question mark on the chart because it would have been a clearer SDA if tomorrow or Friday's MMI was down.