4/27/26 Recap
The SPY is forming an inside day right now, we’re in a nice bull flag here, still riding above the 8 ema and in an uptrend. We’re a little overbought right now, but we have been for nearly 2 weeks, this week is really all about the megacaps, 5 of them report and considering the fact they’re 1/3rd of the market, how they react will dictate our next move but as long as we’re over the 21 ema, that light blue line below, things are fine. I expect we will be mostly flat into wednesday as there is just nothing before all those big reports short of Trump restarting the war or something. Don’t overthink things, we are either in an uptrend or a downtrend in the market as we go above or below the 21 ema. We’ve been in a new uptrend for the last 3 weeks from the day we got back over the 21 ema on the ceasefire, until that changes there is no reason to be bearish.
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