.SPX: Bet a 3-4 Weeks' of Consilidation Period is Needed

MasterWU
04-17

Hello everyone! Today i want to share some technical analysis with you!

1

Long-legged Doji Candle: $S&P 500(.SPX)$$Invesco QQQ(QQQ)$

(1) after a record-setting 12 Green Daily Candles in a row, QQQ, along with its peers, SPX, DJI, etc. set up a Long-legged Doji candle on Thursday.

(2) it shows in-decision or a turning point of a strong trend. Need a mid-sized red candle tmrw to confirm

2

Wow, while SPX & other indexes jumped over 5% last 5 sessions, AAII bearish sentiment remains the same, 10% higher than the bullish side.

This indicator alone is NOT a good sign that the market is anywhere near the top. I would bet a 3-4 weeks' of consilidation period is needed

S&P 500 Concludes Best Month! Shall We Sell In May?
April's final session: $S&P 500(.SPX)$ closed at all-time highs (+1%), $NASDAQ(.IXIC)$ +0.89%. Full month: S&P 500 +10.4%, Nasdaq +14.8% — the strongest single-month return since the post-COVID rebound in 2020. Based on historical data, if multiple new highs are reached in April, the subsequent market performance is usually relatively strong. Will the bull run continue into may? Do you chase the new high or wait for a pullback? Which sector do you think catches up?
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