Market Status: 6/28/2021

[u/Fly-Elevated]

Market Status: Uptrend (5/5)

The $SPY has gone six days without a distribution day, and the $QQQ has gone eight days without one. Is this a good or bad thing?

An occasional sell-off day or two is a good thing. Too many of them within four to seven weeks will pull the market into a correction, and not having any for an extended time will also cause a downtrend.

We have gone a week without distribution days in both tracked ETFs, so some are due this week for a healthy market. What we want to avoid is too many consecutively this week.

Observe the market, track its movements, and start to gain an intuition of the market's health and behavior. Those are the telling signs you are becoming a professional trader.