The Market Has A Destination? 5-22-20

The majors gapped up to April's high areas on Monday. They stayed there for the whole week despite several attempts of pushing down. They are above their 20 and 50 MAs with bullish postures. NQ has been above its 200 MA for weeks. The majors' MACD turned green on weekly but RSIs are not over 60. That indicates they may have more room in the upside. On the other hand, the flat top formation may fall off at any time. The economy is not doing well at all. The fed provided plenty of liquidity may be the main force holding the financial market. Is SPX designated to test its 200MA at 3000 area?

My net liq is at 107K. The leverage is at 4.78. They are improved but still vulnerable. There was no major positions exit for this week. I hope my SPX 2950 could be exited next week. 

I signed up another short term trading service - Elite Options last Sunday night. It's almost a day trading options in breakout style. It's a very fast pasted action. I have missed a couple of good calls since they tend to move quickly. My result for the first week is -$138. Shadow Trader is slower pasted and provides more market analysis. The trading hasn't generated many positive results. I have picked up a couple of option technics. I shall remain patient with both services to learn new trading strategies.