Smart Money To Reverse The Market!

The week so far has continued to be volatile! Even though I mentioned on Monday that the market should be ready to fly this week but having the FOMC announcement today and BIG FAT economic data like yesterday's ISM index and Friday's Jobs report, this week proved to be more volatile than I expected. However, that did not stop the market from being overall bullish the way I have expected it. This was especially apparent in yesterday's market action as the market reached down deep red before staging a huge come back during the final hour or so.

And what do market veterans call this kind of market action?

They call it the "Smart Money".

Smart money comes in towards the end of the day and food for the market comes in towards the beginning and yesterday was definitely textbook smart money pouring in. Smart money pouring in late, forming a huge hammer candle at this junction, almost rebounding once again off the 200MA intraday, is an EXTREMELY bullish signal that continues to support my bullish recovery outlook. This is especially so when yesterday's ISM index actually turned in worse than expected and even that didn't stop investors from getting back in on the better prices, which makes this recovery an even stronger one.

I have no doubt that from here, the market is going up and up.