I exited two of the positions I had for Target Zone subscribers on Thursday for gains. Exited are TLT puts and Microsoft bearish put spread. For COP will look to exit that call spread as well if and when we get further strength above Thursdays high. 

The key index to watch going forward is RSP. This is the unweighted SP 500. To illuminate on that the SP 500 is made up of 500 stocks of unequal weighting. The top names like Apple, Amazon, Tesla, Google, Nvidia, Advanced Micro account for about 20% of the index weighting. In the unweighted each stock counts for 1/500th of the index.

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As you can see the 7 days before Thursday the index was down everyday. Contrast to the regular SP 500. The rally Thursday in RSP was due. The key now whether that rally was an oversold reaction, or was it genuine buying. Bulls want a new high. Bears want the recent highs to hold. Failure could be the end of this run. I am not betting that way yet, but watching for the opportunity to do so if and only if presented. 

Thanks,

Joe