For a change SPY closed down -0.75% yesterday.
ES futures are green again by 10 handles as of now promising a higher open for SPY.
Today FED speak happens. Their policies have been very supportive of the market. I expect more of the same.
RSI remains overbought. Options put/call ratio near record low.
But indicator has not flipped yet. Waiting for divergence and then a confirmation for the next consolidation or leg down.
Remaining bullish for now.
ES futures are green again by 10 handles as of now promising a higher open for SPY.
Today FED speak happens. Their policies have been very supportive of the market. I expect more of the same.
RSI remains overbought. Options put/call ratio near record low.
But indicator has not flipped yet. Waiting for divergence and then a confirmation for the next consolidation or leg down.
Remaining bullish for now.