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I am going out on a limb and looking for a pullback Monday.. What am I basing this on? Well not on any chart pattern or overbought indicator cause those are at this point in the rally all embedded to the upside and lose there timing value. I am looking at the nice ramp up late Friday afternoon. There is nothing concrete here other then I've seen before a Friday ramp and Monday trap play out on more then one occasion. Only think I am willing to do is wait it out and I added a little SPXU  at the close.

The fact is it doesn't feel like there are many sellers in the market. Leaving a lot of shorts trying to catch a top and in return getting chased out. I was twice chased in MCO. We are in the middle of May and on CNBC yesterday they were arguing about why the market continues to go up. They all forget the first rule of trading...The markets are always right. Let's take it day by day and when the patterns start to break down. (Trend Lines start to fail) (stochastics start to embed on the lows) We will have our best indication of a pull back.

and one last thing the Fed continues to back this market, they have the formula and even though many don't think its right. The results are shown in the markets and this is seen as the best way to stimulate the economy. I would be surprised to see them pull the plug way before they approach some of there targets like unemployment rate of 6.5% currently we are at 7.5% and heading down. Next month report is not that far away and just might be what the Fed needs to see to even consider hinting of this. Prediction early we get a decent drop in the unemployment rate, and when we know in these markets bad news is good news, this good news might actually be bad news for the markets. That first Friday in June is right around the corner. I wouldn't mind lightening up a lot into that report.

DTRS