Government shutdown was expected based on all the dealings going around. Now that this is a reality, market is looking ahead.
Today, SPX bounded up +0.80%. I think now there is more upside to be seen in SPX. On the hourly, it looks like a small irregular shaped inverted head and shoulders. I think the setup is favorable for bulls here. A lot of fear and negativity went into the government shutdown and well, you buy when people are fearful and sell when people get greedy.
I've been playing a lot of short term trades (I added a bunch of markers for trades). It is hard to post in real time so I probably don't have much credence but so far some of these small trades have gone favorably.
If the inverted H&S plays to fruition then we should see a rapid rise into SPX 1715 give or take. Ultimately, I think we see another new all time high by the time this month is over (1750).
On another note, we ended today with a very blatant positive reversal setup on aroon oscillator (aroon osc made new low but price made higher low). I love aroon, I think it's one of the best indicators out there as long as you know how to use it and incorporate with other indicators.