The long awaited stress test

The long awaited stress test = the long awaited pullback???

could be. but I wouldn't expect it to happen easy... we have both the S&P and XLF on the verge of breaking out of the highest possible channel. Which would be a mega blow off breakout. (charts below)

But be cautious of a throw over and drop back under to pull everyone in to the mega breakout and then reverse. in fact... be VERY cautious of that. Sidelines might be your best friend at the moment. (even if you are positioned long.... if you try to milk a bull too long, something bad happens)

So not much talk this time... 2 charts...

first chart is the S&P.. we are at the tippy top of the channel..



second chart is the XLF.. we have 2 spots to stop it.. but there isn't much room left..



GL trading.