$SPX Bounce
Think 200MA will be the bottom of this correction,
-Strong reversal on Friday, forming a big bullish hammer candle
-UUS10YR touched the roof of its channel with a bearish long hammer candle (fear of a rising inflation triggered its rise and the stock market correction)
-The 200MA support was respected
-In this correction, green days' volume was higher than the red ones
-Bullish long candle tails
-Market is oversold right now
However,
Don't think we'll see new highs this week,
-I feel the market still nervous
-Don't think volatility is over
.Think this correction will be like the one two years ago, retesting support
If the bounce continues, will be watching:
Bearish reversal candles
US10YR
Wednesday subjacent inflation report
2664-2704 levels for selling in case of a support retest is coming
2837-2853 next gap resistance
Relax, a lot of bears are calling the end of the world. This is normal and healthy for a wonderful bull market like this one.
Remember to trade with your mind and not your stomach.
-Strong reversal on Friday, forming a big bullish hammer candle
-UUS10YR touched the roof of its channel with a bearish long hammer candle (fear of a rising inflation triggered its rise and the stock market correction)
-The 200MA support was respected
-In this correction, green days' volume was higher than the red ones
-Bullish long candle tails
-Market is oversold right now
However,
Don't think we'll see new highs this week,
-I feel the market still nervous
-Don't think volatility is over
.Think this correction will be like the one two years ago, retesting support
If the bounce continues, will be watching:
Bearish reversal candles
US10YR
Wednesday subjacent inflation report
2664-2704 levels for selling in case of a support retest is coming
2837-2853 next gap resistance
Relax, a lot of bears are calling the end of the world. This is normal and healthy for a wonderful bull market like this one.
Remember to trade with your mind and not your stomach.
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