Market rally continued this week, reached a short term resistance point due to the following reasons. 1. VIX is in good 200MA support point 2. SPX has lot of resistance in 1100 area 3. NYMO index reached over bought area 4. NYHL reached 200 MA resistance Expect a choppy to down movement in next week.
"Trade what you see, not what you hope" emphasizes the importance of basing trading decisions on objective market analysis rather than wishful thinking. It advocates for a disciplined approach, relying on observable data and trends rather than emotional desires for market performance. This principle underlines the necessity of a strategy grounded in real-time insights and technical analysis to navigate financial markets effectively.