Good morning all, it seems like the market will open higher this morning. It probably will retest the yesterday high. One of my posts from yesterday stated that SPY could have a shot to hit 103.60.
If there is gap this morning, watch for it to close again like yesterday.
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I think you could be wrong today....
ReplyDeleteand may see a breakout.
I can't keep up. What a crazy day!
ReplyDeleteSPY did go back up to 103.60 and also retested the yesterday high. Here is what interesting at the 10:00 AM. There were lots of shorts shorting the market at yesterday high from yesterday. The Market Makers saw that there were lots of stop loss limit slightly higher than yesterday high for the shorts. So they triggered those stop loss limits. That drove the spike up at 10:00 ish. Once it done triggering the stop loss limit, the market went back down.
ReplyDeleteThe SPY and QQQQ had closed the morning gap. We still have one more hour to go yet.
ReplyDeleteIf you take the today action and overlap from yesterday action, both actions are very similar pattern. The bulls took charge in the morning and push higher, but the bears clawed its way back down. The tug of war continues between the bulls and bears in the last two days.
ReplyDeletePremarket movement is out of this world anymore.
ReplyDeleteWas it like that before?
I am not sure. The stock market should change the hours to 8:00 AM to 8:00 PM. That way there will not be premarket or after hour action. Just regular hours trading. If SEC can changed the fractional to decimal trading in the past, I am sure they can do it.
ReplyDelete2nd night in a row - after hours close 102.75 on spy.
ReplyDelete