New Record Highs Coming — or a Failed Rally?

Since the broad averages topped on September 19, a trader couldn’t have gone far wrong shorting into strength. There have been two rallies since then, with a third developing as last week ended that seemed to have trapped quite a few bears. My gut feeling is that this rally, too, will fail and that it should be shorted, albeit cautiously. For precise instructions, check out today’s E-Mini S&P tout and the chart that accompanies it.  The tout also includes the price at which the futures would become a screaming buy, as well as an odds-on bet to achieve new record highs.