SPY, keep on keeping bullish? Friday Dec 22nd

The bulls are pushing hard. As you can see, this morning we broke the gap that was left on SPY yesterday at 474.70 and this was a very fast recovery.

Now the question is, will it stay bullish? It can remain for the day. However, we should be cautious as the move today is a correctional wave for yesterday's impulse wave. There are no more reasons for the price to go up from the gap point of view but it could go up due to simply there still being a lot of demand and confidence. Which seems to be the case.

I will provide more updates as I see gaps being made today.

Comment:

I believe SPY is making a top where we are at right now

I identified gaps at the bottom. I expect the price to move lower from here.

Comment:

Alright, everybody. I'm done for the day.

Happy holidays to everyone!

I will keep an eye on the market next week but I most likely won't be posting daily. I have family over for the long holiday week. Enjoy! See you all in 2024.