From
"It is whatit is department"Key word is
Early stage of bullishness and a regain of upper trend. Friday intraday "M" formation is sure scary for the bulls, a stop out and fast sell off like that is not from big institutions but retail stops run. I am bullish bias into next week trading. Looks to me we are heading back up to test a 3rd time charm top area this week.
Fearless market is back, $VIX < 16
what stood out for bulls are more than 50% stock in SPX index trade above 20 DMA, this is healthy for the index, what a week things has changed.
Short term trade is easy to spot once again goin into Monday, a line in the sand is clear if the breakout will sustain or not. keep it simple. Trade well, Peace!
My comments are for entertainment/educational purpose only. NOT a trade advice.