Nice week week overall folks for the market. We had some potential to have abreak down of key support in the markets but on Monday we had a gap down that reversed and the market never looked back after that. The AAPL earnings helped provide a push after that and once the momo started it couldnt be stopped. So far this move out of the trading range we had been in puts us smack dab into possible testing the yearly highs in the next week or 2.
We still have lots of earnings coming up along with any potential news from Europe so we are not out of the woods but the price action was very positive last week. Still I wouldnt be short any stocks for swing trades here as a lot of good setups are emerging on the longside
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It’s interesting that you increased your position size on Thursday and Friday. I actually noticed a bit more “bot”-iness on Friday, where there were soooo many 2 second pops that immediately got sold. I don’t believe it was bots; I think it was traders with tighter profit targets, but I saw at least a half-dozen times 1-3% moves in 2 seconds that immediately sold off with little follow-through.