Are you confused about the markets ? Down’t worry since most investors are on the sidelines and the robots have taken over.
Given the European close and our markets not really responding, i have a tendency to think that there is no gas left in today’s rally. Would not be surprised if we close flat.
One common theme that many charts display is the 20 day sma has fallen through the 50 day. Take a look here…
Both the bulls and the bears can make an argument for why this is good. Bulls can say we need a rest while bears will say this is the beginning of the unavoidable.
Looking at the S&P we would be safer to place our bets, (on the long side,) if we see a close above 1378. Otherwise imo we are in no mans land waiting to see which way the markets will go. On the downside a close below 1354 would not be good for the bulls.
I will continue to day trade the volatility as i find this the best environment to make money. Otherwise this market is perfect for a ….
GLT
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