itsQure
Long

Daily Trade Chart.. Pinpoint of important values

AMEX:SPY   SPDR S&P 500 ETF TRUST
This is just a pinpoint of the important values given by 4-16 (the last time we were in this price range). The strong resistance is a high of a breakdown candle(4-16) and the support is given by the value that was rejected today and also the low of a breakup candle(4-16).

Trade accordingly and personally I think the bears have a slightly stronger control due to yesterday's trades BUT the bulls could EASILY do a short squeeze and keep pushing till the end of the day resulting in a bull gap tomorrow.

-Also if it keeps going back and forth then a bull flag is formed. Maybe leads to a gap up tomorrow in order to close the gap formed yesterday. There are magnetic values that the market tries to reach up and down... this gap is one.

Give a like if you agree and follow me because I will be updating throughout the day and night.
Trade closed: target reached: Look I am just going to finish this post by reminding what I said yesterday and a point you should keep in mind for a possible future move.

-Yesterday I said "the bulls could EASILY do a short squeeze and keep pushing till the end of the day resulting in a bull gap tomorrow." That happened. Awesome.

-I also stated "There are magnetic values that the market tries to reach up and down... this gap is one." This now can be true in the southern region. We have a gap between the 4-21 -> 4-22. This will be magnetic, but it will be up to intraday trading to show the first signal. Till then the market will be trying to make higher highs.

I am neither a bull or a bear. I AM a trader... this means dealing with the market day by day. The market does what it wants and I am here to listen to the signals it giving.

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