Markets had a blast day today nice move on nice volume, this market feels like bottoming, though fundamental stacks up against it with oil hitting high almost every day and inflation rising worldwide this market is rallying. A Technical analyst job is to analyse the price pattern and price pattern turned pretty bullish today and we may see a retest of 1395 1400 zone on S&P. May be all the bearish factors are already priced in and market is looking ahead but I am not touching my short etfs in my long term IRA accounts for now because the trend is still down. I probably will start covering if SPY breaks 1405. Had a nice gain today on QTWW and PGH continues to work following nat gas which made a new 10 month high today. Also shorted DELL after hrs when it rallied on IBM earnings news, lets see how it acts tomorrow.
Watching DPTR, GENC and EXPO as longs for tomorrow. MGM GRMN as shorts.
About Me
- Sid
- A techy at heart who tries to keep in sync with ever changing technical and business world. A producer, architect, developer, leader, all rounder, like to do what I really love- Technology
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