BY MARK SEBASTIAN
April 28, 2025
Hey Traders,
SPX closed over 5500 on Friday.
The index appears to be trying to make a run:
I think we might have clear sailing up to the 50 DMA, which sits around 5635. That’s the next major level of resistance.
Now I know we are all used to V bottoms – fast down, fast up – but I don’t think that happens this time.
If you are looking for a new All Time High in the S&P 500, you might be waiting a few months; this rally is going to be a slog.
Yes, the major volatility even appears to be behind us … BUT that doesn’t mean we run right back to 6100.
It could be a while.
Continue to follow the bond market. The S&P 500 had a nice Friday. Why? Because bonds had a nice Friday:
TLT is sitting at the 21 … if it’s up on Monday, the market will be up on Monday as well.
If not … you know the drill.
Watch for an early IWM bull call buy – it’s coming.
If you missed Licia and Hannah on Friday watch them here. Licia is doing a mini-master class on Pitchforks … you don’t want to miss it.
Let’s Recap Friday’s Trade
I know it’s been slow … and we are lacking winners. That changes this week.
…Today’s Outlook
I like the market higher despite things being down a bit Sunday night. I am going to put out a trade in the first hour … be ready.
Call Ted if you aren’t currently a member – 888 872 3301.
Your Only Option,
Mark Sebastian
Mark Sebastian
Founder & CEO, Option Pit
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