That's what the market's saying. Literally with the cup of coffee in their hand and a smile on their face.
And shit, if the market says everything is fine who are we to tell it it's wrong? Look at how close we are to the gap on SPX weekly, and for that matter the top here on SPX.
They're so close they can taste it. And if you were to just look at daily and weekly price action you'd think that they're hi ho'ing their way back to ATH's whistling while they work. But the smaller TF charts are telling a different story.
I could probably had posted the 5m chart from yesterday and no one would know the difference because literally NOTHING changed. We did gap down slightly today and after some low volume indecision we literally did the same exact thing as yesterday. Pump until a certain point, all the day traders hit their target in the first 30m to an hour and we reverse slightly, only for the algos to pick up the ball from there and do the rest. We did test resistance more so today than yesterday. For longer than an hour actually, which should have broke through. But i saw a 5m candle with 88k shares traded in it today. We did get one "good" test of the range to the downside that ran out of steam pretty quick and was led by QQQ, and from then on it was a reload, fill the tank back up and grind us higher into the close. That last 5m candle was half the size until the last 10 seconds of trade where they landed us almost directly on $330. And this is for KCURIO - Think that was a coincidence? That's fucking talent.
And shit, if the market says everything is fine who are we to tell it it's wrong? Look at how close we are to the gap on SPX weekly, and for that matter the top here on SPX.
They're so close they can taste it. And if you were to just look at daily and weekly price action you'd think that they're hi ho'ing their way back to ATH's whistling while they work. But the smaller TF charts are telling a different story.
I could probably had posted the 5m chart from yesterday and no one would know the difference because literally NOTHING changed. We did gap down slightly today and after some low volume indecision we literally did the same exact thing as yesterday. Pump until a certain point, all the day traders hit their target in the first 30m to an hour and we reverse slightly, only for the algos to pick up the ball from there and do the rest. We did test resistance more so today than yesterday. For longer than an hour actually, which should have broke through. But i saw a 5m candle with 88k shares traded in it today. We did get one "good" test of the range to the downside that ran out of steam pretty quick and was led by QQQ, and from then on it was a reload, fill the tank back up and grind us higher into the close. That last 5m candle was half the size until the last 10 seconds of trade where they landed us almost directly on $330. And this is for KCURIO - Think that was a coincidence? That's fucking talent.
