42 replies to this topic

[redfoliage2]

BTW, this is a Fed week - FOMC meeting on Tuesday and Wednesday.  I don't think there will be anything new out of the meeting ....................

[redfoliage2]

I expect some profit taking before the Fed ..................

[redfoliage2]

Let's see what the Fed will say at 2:30 pm EST today ............................

[redfoliage2]

With the Fed out of the way I expect the recent swing up to resume ...........................

[redfoliage2]

Index futures jumped up upon Biden's speech in the Congress this evening, so the market must be happy with what he said.  Expecting more new highs coming ......................

Edited by redfoliage2, 28 April 2021 - 10:07 PM.

[redfoliage2]

Traders chose to have the gap back filled. But I dont think this is a bearish move since bulls now are on a firmer position .....

Edited by redfoliage2, 29 April 2021 - 01:06 PM.

[redfoliage2]

The market has been basically on a consolidation at high for the entire week, but remaining on the bullish trend.  It's more likely than not for the market to continue on the bullish trend next week  ................

Edited by redfoliage2, 30 April 2021 - 11:36 AM.

[redfoliage2]

SPX 3180 must hold to keep the bull trend going ....................

Edited by redfoliage2, 30 April 2021 - 02:59 PM.

[redfoliage2]

At this point I'm neutral on the ST outlook ............................

[redfoliage2]

It looks that a consolidation or correction started overnight as ES dropped thru its ST support 4168 .....................