After consistently sharing my bullish sentiment since June (burning all puts along the way), we're coming close to a pivotal resistance at $424-$425. We're clearly overbought on the RSI, but there's still more room to go higher (preferably). I'll be monitoring movement throughout this month to size in for an upcoming downtrend especially when we have a huge gap to fill after this morning's pop. Again, I don't see much space to remain bullish, but time is required for the markets to reverse decisively even though I clearly share the same sentiment as those that expect a market reversal. Until we reach or come close to the resistance trend, I will remain bullish but cautiously.
