Scoreboard Check

$DIA $SPY $QQQ $IWM

It’s been an incredible run so far this year. Where has it taken us?

DIA 0.00%↑ - a cup of coffee away from all-time highs.

SPY 0.00%↑ - A CMG 0.00%↑ burrito away from all-time highs.

QQQ 0.00%↑ - A CMG 0.00%↑ burrito delivered away from all-time highs

IWM 0.00%↑ - hmm..

I don’t know what the future holds for the broader markets, but any long bets I’m looking to place in the second half will most likely come from the small cap space. The other indices are just too close to meaningful levels that are either going to result in a breakout or fakeout. Breakout will open the doors for new long positions, fakeout will result in profit taking and perhaps some selective shorting. But the risk/reward in those indices at this moment today isn’t there to do anything new, and that’s fine.