Now I compared this to SPY, and SPY is saying that there is not going to be as much up force tomorrow:
For both of them there is a sudden gap up which is showing strength. However if you look at it, the channel is narrowing. And it looked like the gap up today covered most ot that channel.
So my forecast for tomorrow is slightly up and a bit of chop.
Todays original forecast called for chop/down, but the Fed negated that with the news today that maybe they wouldnt raise the rates after all in Sept. The news overrides technicals and the market was up strong today.
Tune in later today for my state of the Union address. My thoughts, concerns and how my trades have been going. This will be posted tonight at 9pm Central Time.
Until then,
Tradinginsider
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