Market Analysis and Trades for 4/15
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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 all about the response from sellers and buyers on today’s “True Gap Up.” There is a video on trading true gaps in the Trading Doggy Style Starter Kit
After some initial two-way trading between the open and 5444, because of the continued defense of the opening print, the bearish scenario of the true gap up played out to Friday’s gap fill. We saw a strong reaction there, but sellers came in and defended at 5479 which sits within a key weekly range. Sellers have an opening here to cap this rally while it remains an inside week, but buyers from last week are not yet in any meaningful trouble.
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