In our last update I had a buy of SPY calls at SPY 579 looking for another test of the high at circa SPY 585. That goal was achieved at the open of Thursday trade less than 48 hours later. That done and profit booked, I am standing aside from short term positions. Look for both directions in the indices on Friday. Next week we get further into earnings. Overall I expect higher, but I am only buying dips into what I believe is short term support. The SPY and QQQ would have to pull back for the opportunity to buy support. If they don’t pull back I will continue to stand aside.  

Thanks,

Joe

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