Friday was a typical squeeze all day. The hardest thing to remember is that squeezes always pop. And the longer they run the harder they pop. In fact the whole month of May was one long squeeze or channel. The S&P has been stuck between about 930 and support just under 880. The most important part about waiting for the break-out is being ready to execute. Friday's pop launched with a shake-out down to 903.5.
It was fast and furious right up to 927. A nice twenty point run and done. Great way to start the weekend with 88 points in the bag.
Warning!
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