Hello Everyone,
First off a new DVT was generated for the daily SPX today at 4089. Also the SPY breakout system is still long with a new stop.
Quick Notes: Haven't you guys heard the new 2 day rule? The market is not allowed to pullback for more than 2 days! Bad joke I know, but after a 2 day pullback nice rally today. On Monday I discussed how the market was overdue for at least a reversion to the mean pullback back to the 9 day EMA's, and that's essentially what we saw. We are also in earnings season and I stated that fact may help to provide a buoy for the market. For the 'Bulls' you want to see further upside follow
through tomorrow.
We've had some nice trade ideas lately, especially in the gold sector. There's some nice long setups tonight should the market push higher
Matt
---------
4/21: SPX DVT = 4089, 2 day candlestick chart 3940