Technical Outlook: Bigger than usual trading range for S&P 500 (SPX) yesterday, and biggest sell-off that the market has seen August 2nd. Would have been the biggest since the Brexit sell-off, but the bulls stepped in during the last 10 minutes and goosed the market off of its lows. More importantly, SPX broke the 20-day moving
This market melt up is extremely common when a large amount of shorts are found with their hand in the cookie jar. What happens here is the market slowly bleeds out the last of short sellers from this market, and while the rally isn't as big as the initial few days of the rally, it is enough
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I allocated some more of my portfolio to SPY on the pop that we are seeing this morning at $129.81. Between 1300 and 1302 there is a lot of technical resistance that should cause some headaches for the bulls to push through. On the Fibonacci retracements we’ve seen the the S&P give back +50%
After finally seeing some signs of life from this market, I decided to go long on NVDA at $15.28. My stop is pretty tight, at $14.78. The setup is no doubt appealing and one worth jumping on with the cup and handle in play and could easily see a move into the $16’s in