Wahoo! If you aren’t enjoying this market then perhaps your opinion is getting in the way of your success. The $SPX achieved the daily close above 1143 so the question now is whether or not the bullish Mondays continue next week. Seasonal data hasn’t been to accurate lately and I’m sure there will be plenty of overbought rhetoric out there so be proactive in your trading and protect profits. Upside, 1150 is a nice round number but not much else so I’m looking at upside resistance at R1 (1158.14) for the October option cycle as solid resistance. Beyond that and the May highs around 1171 come into play.
For those that may not know, I try to collect some pertinent links that are somewhat market related but also psychological in nature. If you have a favorite blog/resource I should be following then please let me know. Have a great weekend!
Where in the brain is the impulse control center?
Key Psychological Shifts Forming the Foundation for this Rally
Choking under Pressure: From the Boardroom to the Bedroom
Psychology, Financial Decision Making, and Financial Crises