Premarket actions

Premarket is down after the Eco news. Markets are due for a pull back after rallying nearly 30% from the SPX 666 low.

Market HOD actions traded to near technical resistances even though we saw initial attempt of breakout.

Qs 33.07
SPX 864.31
DOW 8113.41
Nasdaq 1660.78

With the recent price volatility, moving markets is easy as moving penny stocks since mega funds became very big and have the capability to do so. Therefore, market direction can change very quickly. Having said that, markets are trading at resistances with showing breadth and institutional distribution.

Furthermore, markets will test the SPX 666 low, among other reasons, because market reversal with massive government and the Fed intervention is tested.

Markets turned extremely bullish as many are screaming to buy: but in my opinion, it is prudent to be cautious.