People are way too excited. 2400 was a widely accepted target supported by some tax-related calculations. Will we continue climbing up? It's possible, but some range movement is more probable since the main target has been hit.
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As I pointed out in my previous post, the enormous gap on SPY shows the huge degree of the market non-participation in this move today. This is not how a sustainable advancement is typically built. Just an observation. Now combine this fact with the after-hours action on SPY.
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some pullback targets if we get any, the lower ones are at pivots
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take off some good profit at this 1st target, don't fall in love with the fall
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i'm in favor if this being the low of the day
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i just went long and watching this, still have some shorts from yesterdays, but mostly covered
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game plan for the rest of today
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so they forced me into a neutral position and now i'll wait for extremes to close one side at a time, might take a while, not a day trade anymore, but i'll go on with other positions, lol cats
now this is insanely huge volume after hours (3 - 4 times more than average) + tells a lot about what is happening "behind the scenes"
SwingDow30
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What are these tax calculations?
UnknownUnicorn292837
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@SwingDow30, There is a lot of info available on the internet on this subject, but I recommend "Ask slim market week" where Steve Miller explained the math behind the S&P target a few weeks ago (I don't remember the exact date): youtube.com/channel/UCoAuxtwgh8LSHeMFqEwjgHA
now this is insanely huge volume after hours (3 - 4 times more than average) + tells a lot about what is happening "behind the scenes"