The sauce is hot! While I’m not jumping into full-on put selling I do want to point out that the sauce crossed above the 200 EMA this week. The last time the sauce was above the 200 EMA was in late May/early June and failed to hold. What’s more, the 50 EMA has since crossed under the 200 EMA and is still lurking there.

What I take away from this is that patience needs to be exhibited on my part. What I’d like to see is first the 20 EMA cross above the 50 EMA followed by the 50 EMA crossing back over the 200 EMA.