SPX500 looks very bullish to me as the previous fakeouts have created a double-bottom-pattern.
These fakeouts were the perfect moves to washout these massive crows of robin-hood-traders. The current option-market is full of these retailers who are taking the liquidity for the big players.
To get this liquidity big players are forced to manipulate the market to the downside in order to hunt the stop-losses. When I look at the market-depth (on daily basis) I can see accumulation of volume and these SL-Hunt-Moves as the sellers instantly get aborbed by the ALGOs.
Economy is also recovering well so far which is why I expect more momentum to the upside.
As always I will manage this trade very aggressively, especially ahead the FOMC-meeting today.
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades Irasor
Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
wish you all the best.