 Welcome. This is Melissa Armo and I'm reviewing the spy here tonight and it's very interesting because the market felt heavy heavy this morning. I felt that the market should be up higher this morning given the jobs number out. We did get up but I had felt that it was a big gap that was needed but you know what my take on the market was we were they're gonna stall today fall and then rally next week or take pretty much all day to get going and that is what the market did. Now I'm just gonna review this here because I'm I'm gonna you know I've been doing this a long time but I'm on a bazillion email lists I mean I'm I'm talking about going back like 11 years and I just have a separate email I get all this crap to and I got so many emails in the last 48 hours about people shorting this market excuse me and it's because the market to people has seen top in here in the last you know two days we gapped up here and fell didn't get over 295 and then fell this was the fed day the fed minutes came out dropped down here gap down this day so a lot of people shorted this market here shorting the top and and then there you see it and again remember resistance and support are areas so people were looking at this and saying well that's it that's the top of the market and then here's today so the market gapped up today and really quite frankly rallied into the clothes exactly as I expected we would do 519 here eastern time market up here after hours and anything can happen here next week between the next three days of Monday morning I don't know where we open but I will tell you that the market's definitely higher first of all if your strategy is shorting tops and buying bottoms you will consistently lose in the market over the long haul it doesn't mean that some days you won't make money it means that over the long haul you will lose money also you know a lot of people like I said not only shorted this market but exited their lungs when we didn't follow through let's go here three days ago or two days ago so you know I'm telling you that these numbers are real I mean the market mathematics if you've ever studied math you understand in the world these numbers are real the spy is headed to that 300 number it is going to get there I can't give you the exact time and second and date and moment and time that is going to but it will get there and the reality is that you should never short a top as a strategy so a nice call here I made in the market it was fairly early in the morning not not right out of the gate because I felt we were heavy this morning and we did drop and fall initially after the gap up but you know for the mark to get through this area the shorts are not blown on through yet because we didn't get over this level which was to 94 95 but I'm telling you that we will now some people watch price action like me but they don't read it like me they will take trades according to something called technical analysis and some people trade based on fundamental analysis I'm telling you the technical analysis gives you the right information to be able to know what to do next so the market is definitely definitely not a short and quite frankly anyone that is short in this market in my mind is an idiot okay but you know another nice call here today and again many people still probably have the hung on to the shorts over here from a couple of days ago thinking and believing wholeheartedly that the market might get a little bit over and then fall again are feeling that the market is extended this market is not extended and I could go into a very very very long lecture about why I'm not going to do that here tonight it's Friday night it's late but I will tell you though that I had a nice call here today in the day trading room to go along the market a nice option trade here to go long and I would follow this through for sure into the next week and we will see where we go again I don't find all fundamentals but there was a nice jobs number out this morning which created the gap up in the market I wanted to see it bigger but at the end of the day the market still did it there's still plenty of strength and plenty of momentum into the market and let's just see exactly where we are here yeah we're up we are up tonight 294 34 was a high here at 145 actually here at four o'clock we were up at 294 45 now 294 34 so we were over this here right into the close yeah we get over this after hours and then we follow through so I mean caution to the wind anyone that short this market I think it's a dumbest thing you could possibly do next to shorting Microsoft but you know this is again why it is very important to have a consistent strategy to trade a reason that you look at things it is not about supporting resistance if it was that easy quite frankly no one will lose money in the market and everyone you win and the amount of money they would make would be very very small so there's a very few people making a lot of money in the market and a lot of people losing and why is that because there is a few people that are very intelligent and smart and know what to do and understand what to do and then there's a lot of people that don't so if you want to put the answer in your favor my suggestion to you is learn what to do from the people that are at the top that's pretty much all that you have the only choice that you have if you are not one of those people at the top if you don't know the all the information already okay then you need to learn from someone like that and that's you know the best advice I can give you going into the weekend have a great weekend everyone Kentucky Derby's tomorrow night and if you're interested in learning what I know the next class for the golden gap is the 18th and 19th of May email me at Melissa at the stockswish.com