$SPY TOP 20
Added 2025-05-08 20:02:12 +0000 UTCSecond test now of the 50 WMA over the last 2 weeks and so far has failed to finish a day above this level.
Still no rejection yet but Trumps attempt to push the market higher today did work but it was a short term bounce, the market does not behave like this.....you can't say the Tariff Mess has gone away when it has not and trying to pump the market without context is never believed,
We also ran straight to the 10 YR after his comments and we could see immediately why he did it and the 10YR is still pushing higher now and is at +2.65%....this is typically not a bullish indication for the market.
So we must continue to observe, no breakout yet but also no rejection, the fight continues for another day between the bulls and bears.....but the market needs trade deals, substantial ones, not smoke and mirror deals like the one with the UK, the market cares very little about this.....it wants the China deal and it wants the tariff to be low.
