AMEX:SPY   SPDR S&P 500 ETF TRUST
Invalid. That's what the market just said to the bears and their pesky reversal candles.

And on most of the indexes that's true.

Last night we had Asia get the bull party started once they all the sudden saw US indexes on sale and bid us up, and then the Europeans jumped on that train as well. And sure enough. We had a full retrace and then some in SPY , DJI, and NDX had a 2.5% day.

We also had a full court press by the financial media and the analysts overnight and into this morning giving higher price targets for stocks and a buy the dip pep talk on stocks like AAPL . Not to mention Elon's pro gamer move to announce a 5-1 stock split as soon as he saw his stock price starting to break down out of consolidation.



We gapped up but just short of the channel trendline from this local trend we have going on. But have no fear, the bulls are here. And we literally traded directly to the support level we gave up late yesterday. That shit is not random. Maybe i just have incredible luck with my placement of horizontal trendlines but we got there, and literally just chilled for an hour or two. Almost as if the market's were like "Phew, that was close." Also notice how they respected the bottom trendline the rest of the day? But, again they couldn't get enough steam to get to the ATH's. They had three attempts to take this higher and were stymied each time. The bears were even polite enough to not close us below the trendline today. That is a solid 2/3's of the day where nothing was happening.
At M1904trading.com we're doing daily, in depth market wide analysis with little to no bias as well as live updates throughout the day. Everything from the 5m to the monthly. Check it out for a 7 day free trial!

Comments

How many pies in the face will it take the bears to realize what the Fed has openly admitted to? They will keep this market supported with UNLIMITED QE until things normal out. And where will we be once things "normal out"??
Reply
merkd1904 logicalBird64109
@logicalBird64109 i don’t see how the fed’s going to be able to unwind this without the market throwing a fit though.
Reply
Comment removed.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out