The changes that I was noticing on the price action were confirmed during the last few days. The SPY has been making lower lows for the last 6 trading days. However, the drop has been less than 4% which is not enough to say that the bulls are suffering nor that the bears are happy.
August 19, 2021 10:08 am /Published in* R Option, SPX
A pullback similar to the previous 3. The key now is to know if this is a place for shorts to cover or to add looking for lower lows. Personally, I am ready for weakness but this does not mean that we will trade much lower. GOLD, OIL, and USD moving significantly. As of now
In the past the market was trading higher the day before a FED announcement. Today was not the case. This is raising some flags for me. I will ready for surprises tomorrow.
The strong data today such as GDP, Durable Orders and Jobless Claims should have contained the indexes from large drops and it did not. The link below will show you the MTD of key indexes. SPX is doing much better than NDX. This can be just sector rotation rather than the initial days of a
