NPP Trades Daily Recap 5.24.21
Quick Recap:
The SPY found support at the 388/385 “must hold” zone I tweeted about earlier. And we closed near the day’s high, right back to that 394/398 level that has been a struggle to clear. If we are able to get above it, given the RSI positive divergence and overly bearish-sentiment, I think we have decent odds of a counter-trend rally up to the SPY 420’s. But first, we have to get above it. Because if we don’t, we are still vulnerable to one more washout to the 370 Head and Shoulders area of been talking about for months. So let’s see what happens tomorrow.
The More-Detailed Recap:
(Below we go over all our open positions with charts as well as new ideas for members.)