Quick and Brief Update

Hey Dudes and Dudettes,

Just a quick update. Shocker, we had a gap up at EOD and now people are again screaming long. Weird.
The aggressive gap up we had at EOD today was, surprising, but expected and operated well within predicted guidelines.
Biden gave a speech, which generally acts as a catalyst, and once the negative results of that speech really sunk (and the fear, I mean, like c'mon. Give millennials a break. How much more global catastrophe can we be expected to live through at this point? No wonder we all have massive anxiety disorders). We saw the stock fall back down. Some recovery after hours.

But don't be fooled, the stock completely operated within its predicted range and in fact showed favour to the downside than the upside.
The predicted range for today was a high of 435.50 (the actual I think was like 435.25 or something? I don't remember) and the low was 428.50 (actual was MUCH MUCH lower).

There was absolutely NO conviction to the upside. Just because the stock gapped up super quickly, does not = conviction and bullish sentiment. This was a relief to ease the extreme sellling pressure and the aggressive bearishness we had based on the catalyst of Biden's speech and also it was approaching a strong technical support level.

And while 444 is technically possible, SPY needs to jump through HOOPS if it wants to get there. Like if you are aiming for that tomorrow, we would need to have a significant gap up by morning and open at least close to the 440s.

Remember where we are heading. 420 and below. It won't get there in a straight line.

I am not going to give you the answers to tomorrows test as usual (like I did with my MSFT post yesterday, btw if you listened to that post, congrats on your win ;)), but just know where we are heading and don't get fooled by SPY's little tricks and twists. And to be honest, it's not even that tricky, that bullish rally was actually needed. There was absolutely NO buying pressure for the most part of the day. It was a little too bearish, even for my liking as a short biased trader.

Anyway, as always, take care, feel free to ask questions, leave criticisms and best of luck with your trades!!

UNRELATED NOTE: And also, as a side note, I just want to say I am wishing the best for our friends in Ukraine. I am following this situation closely and I think we really need to realize the bigger picture of this global collapse we are experiencing. These are really terrible times and yes, as traders we need to eat and live, but we have to respect where this money is coming from and its coming from a lot of global catasrophes. Inflation, war, conflict, inappropriate government intervention and allocation of funds and resources, etc. Its both a very scary and a very interesting time for traders and investors, but let's not lose site of the fact that this is coming at the expense of harmony and good political and economic times. Also, as a trader, I don't care about being in a bear market or a bull market, but as a son to retired parents, I see this is wiping out a lot of people's funds who are already in retirement. I don't wish this for anyone and I really feel for all those who are experiencing hardship that we are profiting from.
Just my little unrelated cavet!