Market Analysis and Trades for 4/16
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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
I think I’ll use a meme to describe today’s action:
This was the first part of my morning note, and it didn’t fail to disappoint.
Thus far this week we have spent the entire week since Monday’s cash open below that opening print (5493.25). At the same time, sellers certainly haven’t pressed lower so we have consolidated mostly above Friday’s high (but inside last week’s range). This is about as neutral as it can get. Following todays inside day, that has a fairly good chance of changing tomorrow.
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