All in the video - 4400 is going to decide whether or not we continue the uptrend. For short term a little higher makes sense, but if this is a bear market rally, this is typical kind of movement. Sometimes they go a little higher, consolidate and pullback again. I cover everything in the video. Thank you for being patient and for your support.
註釋
IWM and DJT both very weak today, sometimes a leading indicator註釋
Boring day, and usually a creep up like this should not be shorted - aka "never short a creeping market". DJT and IWM both weak again today - two days in a row - but they both look like they are going to push up tomorrow. 18ma still at 4393 on SPX cash and I'm still thinking it gets there and slightly over 4400. They are taking their time now.註釋
Although today looked bad, the RSI is very VERY low on mid time frames and I usually find that's where the bear traps occur. Yes, it could be the top, however this could also be a 4th wave correction with 5 coming next. It wouldn't surprise me the least bit if they STILL got over 4400 tomorrow or into next week before a larger pullback. 註釋
just got back so quick update, targets have been reached - 4400 area. Gap on SPX cash and spy filled. 18ma weekly reached. Certainly this can go higher but we're having steep bearish divergence on the mid time frames now. Personally I think we'll come down next week, how much is uncertain at this point. Have a good weekend!免責聲明
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