Well, we got 1 day of minor rejection of the resistance area, then a gap and run to the upside, and again today 1/12/18 as of 12:45pm ET.
So, we didn't get the more substantial pull back one would expect. This Bull market looks crazy strong in the face of increasing interest rates. There are multiple unfilled gaps in the YM chart over the past several months. There hasn't been a close below the Daily 8 EMA since mid-Nov. In addition to showing these things on the chart above, look how much time Stochastics has spent above 80%.
There are many other statistics I've heard that indicate we might be seeing exuberance. Guess we're just waiting for the last bear to give up. Meanwhile, I'll be watching for technical patterns suggesting a possible medium term top, followed by confirmation. But, until then, on a short time frame, look for bullish setups on markets to go with the trend, while using a good hedge.
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