Market Analysis and Trades for 2/20
Now or Never Sellers
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The weekly post and for SPY 0.00%↑ and QQQ 0.00%↑ should be reviewed prior to this. Link to Market Analysis for The Week Ahead
Today was the top or we’re headed 200 handles higher on ES in my opinion. We have had this SPX spot on our radar for months and we arrived today. Bulls are in full control here and until that changes there is little reason to do anything other than maintain an awareness of what would need to happen for a top to confirm. If we take out today’s high with continuation (and hold any back test) then matters are rather straightforward- we buy dips to upside targets.
That said, I’ll cover some of the warning signs that have me a bit more cautious than I normally would be at an all time high.