Predicting whether stocks will move higher or lower on the following day has been a coin-toss bet lately, but I’ve gone a few cautious inches out on a limb with today’s E-Mini S&P tout nonetheless. This is mainly because shorts received almost no respite yesterday and remained on the hook at the bell, and also because there is 20 points of running room and no real resistance between current levels and new record highs. The only bearish argument I can think of is that because stocks were up yesterday, most traders will simply be expecting more of the same.
