I'm still bullish on S&P 500. I was expecting this pullback to equilibrate some imbalances. It might go lower, to 3950 or so.
Question is what was happening in the consolidation we had in the last 10 days. Many say that was a Wyckoff distribution, but I don't agree. I think big buyers stopped buying and now they are collecting orders from the smaller market players. When their orders are filled, the big big rally will begin.
Question is what was happening in the consolidation we had in the last 10 days. Many say that was a Wyckoff distribution, but I don't agree. I think big buyers stopped buying and now they are collecting orders from the smaller market players. When their orders are filled, the big big rally will begin.
Note
Price went lower than expected, due to CPI data on Friday. They used that to manipulate price lower. I am still bullish on S&PNote
Keep your eyes out for a buy
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.