A Bullish Engulfing candlestick formed on the S&P 500 today.

Bullish Engulfing candlestick forms on March 21, 2019.

The close today was also 20 points above the options expiration Friday (March 15, 2019) opening range. This suggests the smart money is buying.

Remember, don’t fight the Fed unless you feel like getting whopped and just giving your hard earned money away to other traders.

Despite this obvious truth, there are scores of traders and pundits that continue to point out how the Fed is on an unsustainable path that will lead to a debt disaster. They have been saying this for 9 years and they are still wrong.

Don’t drink the Bear Kool-Aid on these macro arguments until there is some negative price action on the weekly chart to back it up.

Love them bad omens. Are those like bad apples?

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