Today’s trading was the epitome of relief rally, as the market gapped higher by more than 1.5%. However, soon after the open the market stalled and we started to see many bearish candles in financials and technology names as they started to give back early morning gains at around noon. At this time, I had the mindset that the market was unlikely to break highs from last week as the momentum does not seem to be there. At the same time, I do not see a reason for the market to pullback much (this week) because it seems that the Brexit will not come to fruition. In the article I will go over how I am trading my prediction and why I chose this strategy over other possibilities.
Tag Archives: spy
Keep Reading
It Bremains To Be Seen
Friday Focus: The Size of the Wick Matters
Yesterdays strong reversal off the morning lows may very well have marked a low for this market. Not a generational low. But one that could lead to higher prices into the summer. Why? Because the size of a wick matters and yesterday's price rejection offered a wonderfully sized wick at the closing bell.
Keep Reading