Today was open season on the BEAR.
We were shaken out of our long positions this morning with a serious push down by the BEAR following an opening gap down. It looked like BULL steaks were on the menu.
10:15 or so comes around and the BEAR was KOed for the rest of the day. The SPY closed the gap, buyers rushed in and ran with the bull for the rest of the day into the close. The SPY made a new higher high since the reversal of the 16th and closed at that high. The range of prices completely engulfed the previous days consolidation and the SPY closed above the 50DMA.
Expect higher prices from here. We will talk about entering new positions and how to chose what stocks in the coming days.
RALLY ON DUDE!