Gold, Silver, S&P 500 and Bond Prices Pop SPY – SP500 ETF Exchange Traded Fund
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Gold, Silver, S&P 500 and Bond Prices Pop SPY – SP500 ETF Exchange Traded Fund
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SPY – SP500 ETF Exchange Traded Fund
This chart shows two charts. One of the 10 minute intraday chart covering 6 trading sessions. It shows where we had our recent entry point and also shows how the stock market tries to buck traders off a bull market.
The bottom chart shows the daily chart and today strong reversal candle closing at a new multi month high. Again, the market is way over done and I never recommending chasing a stock, commodity or index, but to wait for a pullback to support before getting on the bull.
Mid-Week Trading Conclusion
In short, the market is still trending up so stick with the trend for now and DO NOT, for any reason, chase the market just because you want in. Wait for an intraday dip on the 30 minute chart if you’re dieing to get involved.
The average bull market lasts about two years and the Fed plans on pumping money into the market long enough to make this a 2 year bull market. I’m not saying we get higher prices for that long, but that’s more or less what plan for the guys manipulating the market up. So when it does fall there is plenty of room so hopefully the 2009 low is not broken which would not be good.
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