SPY Pipe Dream
This is just a pipe dream about S&P opening on Tuesday.
There's no reason for it to gap up, but the market has shown that coronavirus is a non-factor.
So fuck it, why not? Indicator boys will tell you otherwise.
Bullish:
Bottom of the channel with lots of buy volume at the end of day on Friday - leading to gap up Tuesday.
The past few weeks have shown a pretty radical bull run, with no end in sight.
Bearish:
Indicators look overbought, whatever
The only question is Consolidation vs Distribution
I'm thinking consolidation.
There's no reason for it to gap up, but the market has shown that coronavirus is a non-factor.
So fuck it, why not? Indicator boys will tell you otherwise.
Bullish:
Bottom of the channel with lots of buy volume at the end of day on Friday - leading to gap up Tuesday.
The past few weeks have shown a pretty radical bull run, with no end in sight.
Bearish:
Indicators look overbought, whatever
The only question is Consolidation vs Distribution
I'm thinking consolidation.
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