Hey,
Happy Friday, Evolvers!
I'm glad you're here, because we're wrapping up a seriously wild week in the stock market…
Big tech earnings from Amazon.com Inc. (NASDAQ: AMZN) and Apple Inc. (NASDAQ: AAPL) propelled the major indexes higher yesterday.
The beats weren't huge, but the response from traders was, which reminded me of an old saying in the stock market…
It's not about the news … it's about the reaction to the news. And so far, this reaction has been extremely bullish.
If the markets can follow through with another green candle next week, we could be seeing the light at the end of the bear market.
On the other hand, this month's green price action could be setting up a classic 'bull trap,' only to take the June 17 lows out at a future date.
Adding to this, we're nearing some key resistance levels — $308 on the Nasdaq and $420 on the S&P 500.
This is why I always tell fellow traders to be prepared for anything. (It's also why I developed my Shadow Trades strategy, which works beautifully in any market conditions.)
Anyway, it's time to do some Q&A since it's Friday. Click below to keep reading…
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