well good afternoon everyone's about half past three here on the 22nd of april uh and uh that's effective s usa as you can see uh the advances and the declines pretty much the same uh and uh a lot of volatility i think it's easiest to see what's going on uh if we move uh to uh the overnight market and that's the overnight market folks uh that's a 30 minute chart of the overnight market and if you watch my video yesterday you'll have been watching this level up around here and that level that i spoke about
yesterday the market got up there last night which was a uh hardly a surprise a 78 retracement of this always difficult to draw the fibs uh because these spikes and i assure you that the people who make this market tick will be looking at the one uh the volume was done in the spike to make sure it was significant but i think that the market has concluded that that's the 78 level and people are selling into that level so i'm in a bit of a quandary this afternoon uh uh the if you're uh if you
are bearish uh certainly that's why the market was sold here we get rid of my fib now if i can and have a look at this uh there is a spring set up here this afternoon and i've taken a sneaky little long based on that uh as you know it's it's my default method of trading uh there's the resistance i came back once and then in the open it's come right down nailed all those stops and hopefully now is uh in fact turning and i'm long of that from about 64.65 i have no idea what's
going to happen next and certainly when it gets up to this 70 41 80 level uh it's going to take quite a bit of energy to get through that so two totally different opinions in the market this afternoon the shorts nailing it up around that full 180 level as i anticipated yesterday and uh bulls and i i am quite bullish of this market 2.8 trillion dollars is one hell of a lot of dollars but i i have no idea what's going to happen next on this time frame as i mentioned yesterday i wouldn't be a
total surprise to see another strong leg down here before it goes again nevertheless i have to take my setups when they come along that's a textbook spring and yesterday afternoon i took a trade here and i got stopped out of entry which was a a textbook up thrust which is the mirror image of a spring so that was my trade yesterday afternoon from about there and i held it over the open and it went against me and you may think that that took 30 minutes to get up there it didn't it went up there in
a few minutes and then it sat up there so i got stopped out on that at entry no big deal and then that's the next trade today so we shall see we shall see through this 4180 level this market can really motor and that's what in fact i thought it was worthwhile to take that if we get up to 41.80 here i'll get the stop-up entry relatively quickly it is a a a a short-term trade uh i'm not going to hang around in it so i hope you find that useful folks uh just watch that
4180 level if we can get through that uh then i think that this mug can go a long way another little boat of resistance up there and i think we'll see a reasonable pullback i'm still uh for the reasons that i spoke about yesterday i'm still bullish about this market the uh trend on the s p for example is very strong indeed but it may need a three to five percent pull back before it goes again thanks very much
