I tweeted last night that technically speaking, it looked like a pullback was due. A rising wedge was forming on the daily of the SPY and those nearly never resolve higher. Yes, occasionally they breakout and invalidate it, but today played out nearly perfectly. I still can’t believe people out there believe technicals are meaningless, I guess this move today was just a great coincidence?
Keep reading with a 7-day free trial
Subscribe to The Running Of The Bulltards to keep reading this post and get 7 days of free access to the full post archives.