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New All Time Highs for SPY
SPY also opened with a bullish gap higher, and is forming a stronger selloff relative to the NASDAQ. SPY has reached new all time highs yesterday and new all time highs today. $564.96 is a key price level to monitor here, bulls want to keep the price above the white trendline and bears want to […]Read More
QQQ Opens with a Bullish Gap 2% Higher
The markets were due for a big move in either direction from the FOMC announcement. Yesterday there was a lot of volatility with bulls and bears pushing the price back and forth. Although the day ended with a bearish close, there was a strong post-market rally with QQQ opening the day 2%+ higher. QQQ has […]Read More
Post-FOMC Market Update:
The markets believe that we are trending towards a soft landing, which is causing defensive positions to get punished and risk-on positions (like stocks and crypto to get rewarded). I personally don’t believe we are trending for a soft landing and I think there is a lot of market risk buying at these price levels. […]Read More