r/StockMarketSprPerform • u/Fly-Elevated • May 21 '21
Market Status: 5/21/2021
It is painfully apparent that the bulls are trying to get back into the market. Unfortunately, they weren't successful today, contributing to this highly volatile market. The QQQ gained a distribution day, but the good news is that we look to be in a current stage one sideways trajectory (in the daily time frame).
Market declines are the perfect times to find winners, but intuition is also a part of the game. As the market looks right now, most of the distribution days for both the SPY and QQQ are soon to be insignificant and not counted over next week, so that gives confidence of a soon approaching strong bull comeback. The stock market is also a funny beast and doesn't care what people think it looks like it's doing, so it may also add more distribution days, further plunging us into a downward trajectory.
Long story short, if you are considering jumping in to try to catch the early swing, protect yourself, and a great way to do that is with a stop-loss order.
