Market Milestones: The Magnitude of an Attitude of Gratitude

[Image] Good morning , The SPY has filled the bearish gap from August 2nd in the fastest and largest bullish move of the year. It took only 18 trading days to move 11.5% from the October 27th low. The last time the SPY moved that much, that quickly, was the October 2022 low. That bounce happens to be the exact move we were tracking since [September 25th]( with our blue bars pattern. The QQQ is up almost 15% in that time period and is sitting at a 2023 high. After such a historic and powerful bull run which included almost zero retracement or pausing, it is probable that the next couple of weeks will provide precisely that — some pausing and retesting. SPY [Image]( The Nasdaq has been propelling this market higher all year long and right now is no different. The QQQ looks like it could push all the way to a new all-time high before 2023 is over. That means that dips are likely to get eagerly bought up by market participants. A retest into $380 at the gap fill, or $370 at the double bottom neckline, are ideal areas to watch. The equal weight S&P 500 (RSP) is telling a little bit different story at the moment. If the QQQ is the bullish indicator, the RSP is the bearish indicator. The RSP is currently retesting a powerful head and shoulders neckline after making a new low on a five-wave descending pattern. However, it has become abundantly clear that only five to seven stocks are needed to move this market higher. This means that even if the RSP’s candles literally spell out the word “Bearish,” it would only matter if tech also forms a meaningful top or has a significant bearish gap. QQQ [Image]( RSP [Image]( [Image] The phrase "attitude of gratitude" has become nothing more than a platitude. The word "gratitude" gets thrown around a lot these days, especially on the day named after this very important virtue. Cicero, the Roman philosopher, said, “Gratitude is not only the greatest of virtues but the parent of all others.” This is because it is impossible to be happy, content, fulfilled, or joyful if we are not grateful for the abundance of blessings we already have. True happiness starts when we are able to be grateful for our very existence. Our lives are a gift, and each day that we have is a precious moment to be cherished and valued, regardless of the situation. Cicero said the greatest virtue was gratitude, while C.S. Lewis said that the most important virtue is humility, the opposite of pride. To me, this seems more like the classic ‘which came first, the chicken or the egg’ situation. Someone who is prideful, arrogant, and entitled is not going to have a grateful spirit. Meanwhile, someone who makes gratitude a key element of their life is likely to be humble, content, and joyful. In order to make the attitude of gratitude more than a cliché brought up a couple of times a year, we must make time for daily gratitude. We teach our children to say “please” and “thank you” all through the day, each and every time something good and wonderful is given to them. However, how often do we forget to say thank you for each new day we are given and for the countless blessings that we encounter in it? This weekend, make a pledge to be more grateful for everything you have in your life. You are wealthy, and your life is full of abundance; it’s time to start noticing. If you made it this far, I appreciate it. I am truly grateful for to have the opportunity to write to you each week. What are you most grateful for right now? [Let me know.](mailto:support@thetradersplan.com) Strive On, Yates Craig, RLT & TPN Market Analyst Disclosure: You are responsible for your own trading decisions. ALWAYS, do your own research before investing in any of the above securities. This is not a solicitation to buy/sell ETFs or securities. NEVER invest money in ETFs or stocks that you can't afford to lose. You can lose all of your capital by trading any securities mentioned. These ETFs/securities are very volatile and gain and lose value quickly. We reserve the right to freely trade in any mentioned ETFs or securities. We are not compensated by any mentioned companies. We trade ETFs and securities based on our opinion of intrinsic/possible future value only. We are not registered investment advisors, so always do your own research before buying any securities. Unable to view? Read it [online]( If you no longer wish to receive mail from us, you can [unsubscribe]( Sent from: Real Life Trading in Nashville TN 37221