There's no volatility at all. You really think any of the numbers are market moving? The only thing that will move the market this week is NVDA.
Powell maintained his Sunshine and Rainbows mantra, apparently. Slightly sticky Inflation, balancing Labor market, Economy solid.
Looks like another Inside Day on the SPX in anticipation of tomorrow. I'm sure everyone knows that the number tomorrow will come out hot, but like I said a few pages back, the market appears to be shrugging off any 'bad' news at the moment. What the market dislikes above all is uncertainty, so maybe we rally as soon as it's out after an initial shakeout like today. At this point, it seems like tomorrow's number have to be a complete disaster to the effect of emergency rate hikes (joking) for any sustained sell-off.
The statistical data I'm looking at says today can dump into the Close, though. Failure around 5247/50 could be a good short for any brave souls.
I thought you were bullish? Either way we about to rocket to ATH. NVDA is pumping. Meme stocks are pumping. As I said earlier this has the potential to go all the way to 460 this week if NVDA earnings come through, which should happen. Tomorrow is the big day.
Just got booted out at 445.25. But as you might know, my stop almost always aligns with the reversal. So I wouldn't be surprised if they go back down. Ggrrr.
Overall, I'm feeling fairly bullish yes, but day trades are always short term and I just shared what my statistical data seemed to suggest. I took a short on the first 50 touch, but reversed long after it seemed apparent we were going higher after all. NQ strength being one of the clues.