Market Analysis and Trades for 4/22
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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
Last week’s inside week broke to the downside, which was our major focus for the week. The high time frame 5170s/5180s target was met rather quickly, with no meaningful signs of life until the 5130s were tagged.
The 5130s (5127.25 low of day) triggered a LBAF of the 4/10 low (5146.75) which was a long setup. Bulls have a lot of work to do before this setup can produce anything meaningful on a swing long basis:
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