merkd1904

Wash, Rinse, Repeat.

AMEX:SPY   SPDR S&P 500 ETF TRUST
And who knows how long this can go for.

They did it again. The cup game. It's like throwing a darts at a dart board to see which market sector they're going to go after on any given day.

So it looks like they did weaponize QQQ / AMZN yesterday to get us over the line. And they held it. Even last night in the futures market /RTY was up a larger percentage over it's bigger brothers. And when we got the EU stimulus news that was all they needed.



Alright so we gapped up, obviously. And it honestly looked like we were going to be going on all cylinders for the gap fill and another huge day. But the QQQ traders were like "nah brah, not feelin it" and as XLF , IWM , and DJI were moving upwards in a straight line QQQ was starting to go for it's same day gap. That was basically the name of the game majority of the day with QQQ showing weakness with spouts of dip buying that would bring SPY with it but ultimately we just stayed flat, and per usual, volume died. QQQ traders tried to weaponize AMZN again and bring the broad market higher but it didn't get any back up from the other leading indicators and markets. At about 3:0 we started to see sell volume enter the market and from there it was basically sell pressure until we got to the close with the bulls protecting the breakout area and yesterday's close successfully and a perfect kiss of the 5m 200 period MA.
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

It was better when you gave your analysis on here rather than on website.
+3 Reply
merkd1904 corearchdesign
@corearchdesign and that’s exactly what makes it more valuable than free.
+1 Reply
You are documenting evrything but you do not give your analysis? What do you bet for?
+1 Reply
merkd1904 akatsiya
@akatsiya analysis moved to the website. M1904trading.com. For now i’m neutral.
Reply
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