I’ll start off by stating that I am not trading GME. That is to say, I am not placing trades on it directly, but I am certainly watching it intently throughout the rest of the year. My reason is simple. Of all things a trader would want is a window into the mindset of their opponent (the market). And the two biggest emotions which drive the market in either direction is Hope and Fear.

In Bull markets, I was trained to watch price action and a handful of indicators for entries/exits, potential reversals etc. But I was also taught to look at the market leaders, which for the past few years had been FAANG. When looking for big moves in the broader market, one could usually look to the leaders first to see how strong they were. Big strong moves by markets leaders usually preceded and led the market on big strong days. This was all open to interpretation and sounds a bit obvious, but as you get more experienced you start to look for tells in the market versus noise .