Earnings on Deck

We were stopped out again once more in this frustrating 'melt-up'. The market is patently ignoring all bad news as the huge injections from the Fed find a home in stocks. However the last quarter ended significantly overbought and due for pull-back. With this in mind, we shall sell 7 contracts at the market open this week at 1586.8, and a further 2 at 1593.5, setting a stop-loss of 1601. We will take profits on 4 contracts should the market below 1555.