We saw a very bullish opening with SPX going up as high as 5190, another all-time high, but miserably reversed to go down as low as 5117. At the end, SPX closed 33 points below. Ouch for those chasing the market! Of course, none of this volatility has really damaged the bullish uptrend so far, which is still in a good shape. But I do think the topping process is near its end and any upside should be limited but the downside risk has been enormously large. Be careful now!
For us doing short-term trading, we don't care much about the direction so far, as long as it is volatile. We cashed out two trades today with good gains, one to bet on the downside and the other on the upside, thanks to the volatility. It is a fun market to trade with.
I found it is really amazing that no one is paying attention to a bull run that is quietly running up at the moment. I'm talking about gold. Apparently FOMOs are more interested in chasing the stock market or AI stocks, which are enormously dangerous with each passing day now. But gold is in a very safe position with an upside potential that may surprise most people. We have already made a double in the past few days and I think there are a lot of profits to be made in the months ahead, as long as you know how to play with it!
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