/biz/ - Business & Finance

Okay, here is my swing trader's point of view on today's S&P price action. Like I said further up the thread, this thing is behaving similarly to a small-mid cap speculative meme stock at the moment.

Short term descending channel, held lower line a couple days ago. RSI went oversold on weekly chart at the low of this trend. Oversold bounce, bulls hopped on and ran it up to the upper trend line for close today. If this were a stock and I was swing trading it, I would have taken partial profit right before close to hedge against the scenario of bounce back down off upper line.

Tomorrow's forecast? Potentially red open and then I don't know. Maybe inside candle or something. Or the bulls say fuck it and ram the thing up over $2500. I have no clue.