Afternoon folks! hope everyone had a fantastic day and amazing weekend. The weather is starting to pick up in the midwest and i saw the sun for what seems like the first time in months! Great action in the markets overall last week. There were a few headfakes but the bulls really made an effort to hold up the market and thrust it forward. Im starting to see some decent setups to the longside finally. Even with the s&P UP 4% the trading wasnt always easy as there were mixed signals all over where I thought the market could roll back over but the bulls kept coming in intraday and taking us higher. Thats one of the keys that i watch in the markets is the intraday action that gives us an idea of who is in charge and has the advantage. Ive been conditioned so well the last 2 months that when we pop we just fade so I was caught a bit off guard especially on friday to many of the good long setups as it just felt like in the morning the market was going to fade especially after the late day collapse on thursday but I feel much more prepared for this week . This week it will be important to have a good list of potential longs ….but also shorts just incase the markets 2ndary reaction the spain bailout is negtative. Prepare for both even though Im leaning towards it being positive as bailouts in the past have caused large stock market runs.
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