Retail bites the FOMO AGAIN - SPY back to 530
After the sell off on 8/5, retail traders are starting to pile back in because all the issues magically just disappeared.
It is actually comical to see how easily the media controls the narrative of the people and the market.
Straight up and down moves are the best times for a reversion to mean trade.
Or at least... we'll find out.
MACD on hourly cross-over, and S&P moves from 510 to 555 in 2 weeks? I like my odds.
We re-test 537 likely in a few weeks.
My mental stop is at 558.
It is actually comical to see how easily the media controls the narrative of the people and the market.
Straight up and down moves are the best times for a reversion to mean trade.
Or at least... we'll find out.
MACD on hourly cross-over, and S&P moves from 510 to 555 in 2 weeks? I like my odds.
We re-test 537 likely in a few weeks.
My mental stop is at 558.
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