Markets had a BIG and nice rally yesterday - and we remain long markets 1295 SPX as the right shoulder in the inverse HS pattern seems like it will be played out.
My objective target is still 1350 area but the inverse HS pattern targets higher.
Actually my first target is 1350 , but then I think we might have a pullback before moving to 1360-1380 area.
So am I bullish now ? Yes , and I have been bullish as long SPX 1294-1295 were holding. Is the fundamentals great ? NO and it still looks very bearish by fundamentals , but the technicals works a lot better than fundamentals and you cant trade on fundamentals. So the short term trend is up and lets see if we cant see new highs soon, we might very well have a little pullback soon as VIX closed below lower BB.
My time zone for the top is around late April/ Early May.
Remember to follow me on twitter where I post daytrades and swing trades.
Have a nice day
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