Hi traders,
it's typically like a holiday for us traders when the market (SPY) moves strongly to one side as it did after Wednesday's open. But in current uncertain times (see my vid. "Indices Will Start Falling When...") you can never be sure of the genuity of such move. We saw exactly that yesterday. A V-shaped reversal and straight back up, ending the day...
Let's take a look at the indices after the extended weekend!
We see a break of a bull flag within a trading range. Strange, but powerful setup. Technically, everything seems fine and dandy then. However, there's an increasing notion of something being just WRONG. The economy is in turmoil and the full effect of the pandemic consequences is yet to hit us. FED is...