Yesterday in the discord chat in the leo trade talk room I mentioned how the S&P 500 was 120 points away from its 10 day moving average and every time it has gotten that extended, sometimes even more extended after a several day run up of green candles we received a pullback.
Thus, I added to an existing short position I have had on and today got a little relief and took a small profit on part of that new add.
Is that all the rest it needed?
The biggest things I am trying to figure out now is if this is the beginning of a sell off or consolidation or it the S&P is just gonna keep pushing toward the all time highs after one day of rest?
I want to say I can't see how it could go higher the rest of this week, but I have seen enough in 2020 to know that would be foolish.
You'd like to think there will at least be a fill of the gap from Monday's candle after being up several days in a row.