Market will not be ready to visit the lower boundary of the range (800 on SPX) until most of the type-1 suckers are lured into the bull buss.
Remember before the GS earnings market sharply moved towards 850 into the close as if it was about to shoot towards 900 next day. But the next day, market cratered as GS got severely decimated about 20 dollars per share in a few hours.
We have seen the similar market action before JPM earnings. Only difference is JPM is slightly higher in pre-market action while futures are down.
Market will do the most obvious in the most unobvious way. So my advice, trade what you see, not what you feel or believe.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment