Still a take your money and run kind of market it seems. SPX reversed off last year's close on this initial thrust higher. Today's LOD was a gap fill from the 14th of January. Could swing both ways here...
I'm in and out on the long side trying to get a swing to 5920/30, but so far on higher time frames this is a rejection. Wouldn't be a relaxed long until we push above 5900 today. Let's see if this thrust can do it.
I know that the only truth is the chart / price action. That said, keep in mind that a lot of big-money players thought Trump would be great for the market and they're now finding that... well... Loco may be entertaining but is not necesarily good for business. They need to unload their positions on the bag-holders (look at these prices, a bargain!) before they let this really go down. Reminiscences of a stock... , etc. And keep also in mind that Trump said that he was going to impose 100% tariffs on Taiwan's chips... and nobody around him has both the brains to understand what that would do AND the balls to tell him so. Sorry for the Trump interruption, just from an economic point of view. Best trading to all.