OK, we did get a Bullish Monday, but it’s not that bullish, the SPX made a filled black bar (Open > Close). Take a look at the chart below, see red cycles, what happened AFTER a reversal like bar was formed on suppose to be a very very bullish Monday.
Also don’t forget the statistics I posted on the Friday’s report about the rest of the week after the bullish Monday. I posted again below for your conveniences.
Draw conclusions by yourself.
One trick today, when ISEE Indices & ETFs Only Index closed above 100, 21 out of 31 times (68%), SPX will close below today’s close within two days (see red and blue arrows).
As for firework setup, it should have ended on last Friday when CPC was closed less than 0.7. I forgot to mention it but it’s actually not bad as there’re some extra points today. 🙂
