The Stock Market Dipped & Ripped (Was This A False Breakdown?) | SP500 Technical Analysis

Today the Stock Market (SP500) gapped down breaking out of its rising wedge bearish pattern and ripped right back to the upside shortly after almost creating another stock market all time high record close!

Was this a false breakdown on the SP500 or will we some continuation to the downside. After today's bullish candle it is likely to still see some more action to the upside. However, after a day like this, the stock market is continuing to throw head fakes at all the day traders looking to follow up on some momentum.

This market still remains a buy the dip sell the rip type of stock market. What is it going to take to get a healthy reset? With economic data coming out poorer than expected the stock market still wants to head higher and higher.

Only thing we can do is to keep a close eye and be ready for what's to come.

TIMESTAMPS:
Intro: 00:00
SP500 Daily: 00:16
Unemployment Data: 01:00
SP500 Daily: 01:31
VIX Volatility Index: 02:40
SP500 30 MIN: 03:34

STOCK TRADING PLATFORM I USE
○ Webull (GET 2 FREE STOCKS): https://bit.ly/3i5U591

MY FAVORITES - https://amz.run/3JLv
○ Book Recommendations
○ My Studio Setup
○ Morning Coffee

COME SAY HI:
Instagram: https://www.instagram.com/figuringoutmoney
Twitter: https://twitter.com/mikepsilva

Make sure to SUBSCRIBE to my channel!

DISCLAIMER: I am not a professional investment advisor, nor do I claim to be. All my videos are for entertainment and educational purposes only. This is not trading advice. I am wrong all the time. Everything you watch on my channel is my opinion. Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel :)