Update: Trading the S&P 500, SPY and QQQ

The bulls are taking control of today’s action.

The bulls are taking control of today’s action with a gap-and-go open. Now 90 minutes into the session and the NYSE is clocking in with 81% upside volume. The Nasdaq is clocking in at 84%. 

The Adv/Dec is a hair shy of 80%. That has us looking at potential back-to-back 80/80 days. 

Of course, Powell on Tuesday morning and the CPI number on Thursday does complicate things, but as of now, the bulls are off to the races even if it simply becomes a “buy the rumor, sell the news” reaction this week.

Here’s how I’m looking at the intraday setups in the ES, SPY/SPX and QQQ.