Quick Notes: First off today I sent out an email for the open SPY system long trade, I elected to take off the SPY call option to lock in those profits, but still continue to be long the ETF portion with a stop.
Also, I will be traveling on Friday.
As far as the market, the SPX once again made new all time highs, as did the Nasdaq, while the Russell 2000 Small Caps continue to greatly lag behind. The market is still uptrending however it is being led by fewer and fewer stocks (AAPL and AMZN) lately. While the uptrend continues be aware that divergences and some early warning signs are flashing: The VIX is now uncorrelated with the SPX, the VVIX has now closed above the 110 level for two consecutive days, and less than 50% of the stocks in the S&P 500 are above their 50 day MA, while the SPX makes new all time highs. Price action is what matters and the market is still uptrending, but these divergences are building.
I added a handful of new trade setups
7/2: SPX daily DVT = 4258, SPX 2 day candlestick DVT = 4232, Weekly DVT = 4057