Direction of maximum pain is up, as the past week or so of action dictated a healthy pullback was in store before breaking 3400. I'll be waiting on the sidelines here
Globex stealing the show again as we paint 3405.....and Europe hasn't opened yet. Asian markets all up.
Always a nice day in the land of free money. Great trade so far, but what's your exit plan? Will you trail a stop? I'm still quite bullish myself, but I also know it's rare we gap up on a Monday and never look back for the rest of the week.
I wanna lock in some profit, but I think we can just keep going up to 3500+ in coming days without too much of a pb. Got my stop at 3385 for now, locking in 10. Be very surprised if they let it fall that much without the Fedbois stepping up!
Sounds good, but I don't think you should be surprised if we get a decent pullback either. Just last week we had a 50 point drop or so (not on my trading computer, so can't confirm). We had a Gap & Go Week a few weeks back, but most weeks don't do that. Which is why I think we can see a pullback to 3400-3390 or more today or later this week - even if we eventually rally higher by week end. Of course - there's also the possibillity that we Gap Up and never look back. It's happened before... Good Luck.