SPY RALLY
No surprise after 2 days of decline the bulls squeeze the bears out, gotta share the wealth lol. We are still below the trend line closed right at it. My biggest take away so far is UPS and CAT showing weakness especially CAT when it comes to construction slowing down, GDP at 1.1% also showing weakness. So are we back bulls or is just a relief rally? Honestly I don’t know but after a day like today and PCE tomorrow I would not be surprised if we give over half of it back on Friday. V shape recoveries are normally followed by a pullback before continuing with the move higher. Tomorrow PCE will set the tone going into MAY GO AWAY month. As of yesterday the indies trading volume was 1.8 trillion dollars on average April is 4.4 trillion to say the least volume was way down I highly doubt fomo is going to kick in for May. Don’t fall asleep on a winner you might wake up to a loser.
As always trade what’s in front of you good luck
As always trade what’s in front of you good luck
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