Happy Saint Patrick’s Day, traders!
The game plan coming into the wek was to short rallies in the SPX. We did that on Tuesday with a call credit spread in the Compounding Growth Mastery.
What has changed this week? SPX remains under the 50 simple moving average (SMA), 21 exponential moving average (EMA), and the 200 SMA while printing daily Big 3 sell signals. All of this does not bode well for the bulls.
The QQQ, though, is looking bullish this week. In the video above, we’ll take a look at the overall market and big tech names like AAPL and GOOGL to get a better read of this market.