Wild week, very disruptive, very bullish.
Last time we brought a flash update, we discussed the idea of reaching now highs and not fading the up move. Unfortunately, the timing around that post wasn’t great. We basically had 3 sequential series of bad news — which is most likely one of the most bullish scenarios we can think of from a sentiment standpoint.
The gist is that we have qualified TD Propulsion up in SPY to 485. Yesterday, we created TD REI buy signals. Not only did this happen in SPY, but the overall market as well.
Without giving too much away, this was extremely bullish. We had TD Camo Up patterns along with what we call the “Petr Up” pattern which is a TD Differential where the Low holds TD Ref Close.
Worst thing we can do now is overtrade this. Not doing much until we reach SPY upside targets in the medium term.
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