SPY Daily.  Bearish flag formation to some degree.   Now with all the Fed flooding I have to take into consideration that normal chart analysis has to viewed very carefully.   We are witnessing an unprecedented amount of money being pumped into the markets and Bonds.   Do we break the wedge and retest the lows?  Do we go below the lows for a final wash out before a long term bottom is put in?   Do we get small pullbacks and every pullback gets bought and see new highs?   My personal opinion is get some type of pullback this week and the market reloads to move up into the big resistance zones on the chart (290ish to 300 area) in the next several weeks.  Markets almost always overshoot.   Then see what the market does next.   Or do we sell off this week and retest the lows?  Because of the aggressive stance of the Fed I am leaning towards the pullback this week then market gets bid up.   Looking back in history, the majority of bear markets had a retest or went 19-25% lower from the first low after the initial wave sell off.     But as always price action will determine the pathway.   

Nice work with the Pitchfork.   

Here is a list of the ETF's that the Fed is buying: https://www.zerohedge.com/s3/files/inline-images/ETFs%20bought%20by%20the%20Fed.jpg?itok=0m26dnHv

Good information, but i do not think Hedge Funds should get bailed out, they should die on the vine if they haven't  managed risk properly.  Hence the word "Hedge" in Hedge Funds.  Only the strong should survive.   I grew up in a bad neighborhood with nothing and I worked by ass off and educated myself to get ahead with no bailouts ever.  So I have no pity for people who take high risks.  

Looks like Bear flag developing on the GDX.   Could see one more push lower to wash everyone out before next push up.  It will be a great buying opportunity. 

Best in Class stock for the miners. 

Long Term SPY signals.  I use this program for my 401K buy/sell signals.  Still no buy yet.  Todays signal still "Hold".   50% retracement mark today.  Not far from the 61.8%.   Maybe next week.  It seems with the higher the unemployment #'s the more bullish for stocks right now.   Because the market is telling the fed we need more.  The addict never recovers if it has an endless supply of drugs.   At some point the heart stops.   If the Fed keeps pumping and more pumping, at some point inflation is going rip.   $5 for an apple in the near future.  

no doubt.  

SPY 60 min Elliot Wave cont.  240 area.   Not sure how things will turn out with all the Fed money, these counts could prove futile.   It's amazing how many spam newsletters I am getting that are saying "now is the time to buy stocks" and just last week the same ones were saying "Time to be in all cash".   Time to buy was 3/24, time to be in cash was 2/24.  Love those market guru spammers. 

2 trillion thrown into the market will get things going.   And we get $1200 or maybe some of us  get nothing.    $1200 is a joke in today's average cost of living  in US.  

LQD is almost near the Feb Highs.    Fed has been bidding that one up.  Cannot fight it tho.  

DRV.   Massive volume today, Hammer candle and Bullish Div.  I like this set up going into next week.  

I have.  I found myself trading in after hours too much and really effecting my sleep, etc...Mentally it was too tempting and so I backed away from it,  I am happy and consistent with the cash market during the day.   

SPY 5 min Trading Chart.  This is a snapshot of today's short trades I made on the SPY.    This is all i use when I day trade.  I keep it simple on trend days.   I usually look to be more active in gaps and downs, tend to have  the best swings to day trade.   Could get one more short set up into the close.  See if we have time here.  

I understand all that but I am capitalist and industries die and new ones emerge.  I understand jobs will be lost in that industry but that is the nature of life and business cycles.  Auto industry is perfect example.  Darwinism.   

One rant for the day.  This whole oil thing really gets me.  When oil "crashed" on a Sunday night and markets went limit down.   We heard the next day how this is good for the US, cheap gas prices, etc... and I agree to that 100%.   Then two weeks later we are going to broker the deal between Russia and OPEC, suddenly low oil prices are bad.   The tweets are getting bought up on this news cycle now just like last year with the China deal, I haven't heard anything new on the China deal?   at the end of the day I just have to be on the right side of the trade.    but these types of things bother me as I try to teach my children to be good stewards in life.   

DRV.  When that sick dog hit $19.02.  I bought 1K shares at $19.17.   I am done chasing the dog.  

I like Silver and Gold for the long haul but overbought levels here and took profits on UGL and SLV.   Get back in on pullbacks.  

I was down 3.2% yesterday with the ramp up.  Got caught with some ugly short positions.  But I stuck to my TA and had this am's high on SPY as my TGT for this weeks rally and increased my positions 4x this am at 10am.    This is all Fed rigging, fundamentals are still bad an no cure for the virus yet.     Until then My bias is to the downside.   

SPY Chart going back to the 2009 low.   We are at the underside belly of the resistance line.   Is it different this time (It might- if the Fed keeps pumping Trillions into the market, not even Billions anymore)?