Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 660.19

-0.8%

Nov 18 4:00 PM EST

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To: Johnny Canuck who wrote (53386)	11/17/2020 3:56:14 PM
From: Johnny Canuck	Read Replies (1) of 68096

Lack follow through is problematic. It means traders are not willing to commit more funds. We are seeing some rotation but in the absence of a catalyst the indices will fall under their own weigh (no more fools to sell to at a higher price). Too soon to cry wolf yet but at some point institutional trader will be looking to lock in profits for the year and do tax loss selling. In theory we are already in that season but the trend is your friend and trader have the Fear Of Missiing Out (FOMO).

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