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Strategies & Market Trends : SPY & QQQ intraday chart observations by rimshot
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ajtj99
To: rimshot who wrote (690)7/22/2022 5:44:16 PM
From: Sun Tzu1 Recommendation  Read Replies (1) of 1309
 
Despite the pullback today, it was still a risk on day.
Why? Because:

(1) BPSPX and BPNDX both went up today (3.5% and 2.5% respectively). This indicates short term strength under the surface.

(2) On a day that SPX dropped 1% and NDX dropped 2%, VIX rose only 1/3% and VXN actually dropped 0.4%.

I am not keeping any shorts over the weekend and I don't have any credible sell signals. This was just a normal pullback before the weekend after a hot week.
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