Of the last ten trading sessions, eight of them has resulted in the SPX finishing higher.
On the daily chart the SPRI is undoubtedly nearing extremes that could see this rally fizzle out in the short-term some time next week.
But now on the weekly you have a non-traditional upside reversal that took place, as we thought might happen last week.
What do I make of all this? Simply that I expect the easy money has been made in this market and we probably have another good week or so of trading to the upside before this market begins to stall out some or at the very least where its direction comes into question.
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Watching the dollars rise and fall in your trading account can turn a well-planned swing trade into an emotional, deeply personal decision. In this episode, I explain why focusing on price action, percentage returns, and R-multiples can help you avoid cutting winners early, holding losers too long, and abandoning your trading plan.
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