10.26.2020 - Uptrend

We begin the week with both the SPY(-1.85%) and QQQ(-1.50%) gaining a distribution day. The SPY(-1.85%), on the other hand, retested and traded below its $339.08 mark and closed above it.

The scary thing unfolding is the stage 3 sideways trend that you see in the chart below. What usually comes after this stage is stage 4 downtrend (speaking in terms of the long-term market trend).

At least for now, it seems like the market is holding its strength, so using your stop-loss orders will be significant help at times like these.

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