BobbySpa

SPX - Runaway Bull!

SP:SPX   S&P 500 Index
This fifteen minute chart is a follow-up to yesterday's ideas. The 3103 level that held yesterday morning was very bullish. Try as it may yesterday 3118 to 3120 was containing the full retracement until the jobs number this morning. We blew thru 3136, 3144 and made it to 3150. As you can see the report has put us in euphoria land. For how long I'm not sure but we are still overbought and weekly indicators still have to play out to the downside. It seem like the inevitable is being pushed off for a little while but when the correction comes it should be deep and fast.
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