Beer candles on SPX are showing slight continuation of trend on daily and renewed continuation on weekly, though the weekly ES is showing slight indecision. Friday was a profit taking day. Should the trend renew strong upward tomorrow, I'm not sure I'd be entering new longs except in very targeted opportunistic plays. But I'd be holding on existing longs and watching closely for indecision candles on daily for more profit taking.
But the main key is, the market "feels" like it needs to consolidate and correct a little, but some of the most bullish times in history came in moments exactly like this. The market is truly in a major pivot zone. As of now, the candles tell us to keep an eye, but don't freak. What you need to do is let it work itself out before you go forcing your preferred outcome on it. Be ready for any outcome and attack with the trend.
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)