You've become quite the pessimist the last few days, @Laissez Faire I don't feel qualified to make predictions. However, when I look at the weekly chart, a similar gap from the fall never filled. Maybe this one doesn't fill either? For tomorrow, the levels I'm looking to buy are Friday's 5519 low, which was the high of the Fed day breakout the week before (6.12.2024) and then 5507.50 which was the high on 6.14.2024. That was the 3rd day of the pullback from the Fed day news breakout high if you count the day of the high itself. If instead we gap above Friday's high, I will look to buy the slightest pullback. Here is my "cup is half full" look at your chart.
The summer midnight sun is playing tricks on his brain AFAIK, Laissez Faire is quite objective most of the time, considers different scenarios and is quite aware of his own biases. We'll find out soon enough what the market does, anyway Best trading to everyone.
I've been through a couple of these cycles now, and your charts mean shit heading into this election, as COVID fucked it all up. I'm standing back on this one, because the first shoe to drop will be the prez. debate next week. A hoot that will be.
Possibly. But we will likely see a temporary bounce at the trendline that I've drawn. Anyway, if we don't get a pop on Monday, a pullback from here looks very likely.
I have to do some of my "real" work today and only have 8AM to 9AM this morning to trade. Two trades netted just over 5 points of profit. Not going to push my luck and give it back.