To The Moon

FED Bullard wants >5% rates; Market continues to defy with 2Y Bond Yield dropping

- Follow-through "controlled" buying on Monday, pushing SPY beyond 409 resistance; And finding the middle of range of area of balance <== Shared in earlier posts that there is an area of balance from Jan/Feb between 407 and 416. 

- Any cooling off could happen any moment now, or else, "controlled" buying continues to bring it to 416 

- Watch the reaction on Thursday 6 Apr as catalyst on Friday NFP is released on a non-trading day (public holiday) 

- Tech was pulling back on comments by FED Bullard saying above 5% rates

- 2Y bond market however, still drops ==> Also could mean money is flowing to bonds and safety counters in SPY

- Note QQQ also has an inside bar (relatively bearish)

Upside : 416

Downside : Fib 38.2 is at 400 (anything above 400 remains a bullish pullback)

Personally, I am backing off from long put positions and slowly closing them whilst building short calls. 

Good luck, all!

@TigerStars  @CaptainTiger  @melson  @LMSunshine  @Deposit  

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