| As most earnings seem to be ahead of expectations and Biden's bold plan for significant spending is outlined, traders are really trying to be optimistic. After another round of highs, caution started to come back to Wall Street as markets leveled off. It isn't a new discovery that what the general public feels (in this case all of the excitement about post-pandemic re-opening) is not what drives the market. The big traders are looking at a long list of factors as they take their positions and their analysts dial in the algorithms that make up a majority of trading. If you are trying to confirm the next trend or figure out when the reversal is coming, actions speak louder than words. Not unlike the bold promises in Biden's speech, recovery rallies are not a guarantee. There are many businesses figuring out the new reality and it will have a widely varying impact on their success. To get a more objective view of what to expect, we have to tone out the hyperbole and let the charts tell us what is really happening. Joe Duffy just released a new guide that reveals how to look at what the market is doing and use that to tell where Wall Street will go next. If you missed his offer for his "Little Black Book of Wall Street Bets" you can still get it here
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