Long

Bear Squuuueeze?

By thienlovv

Updated

This will squeeze all of the mothers of bears if this plays out.

Note

Right now we have a bear divergence. Expect a pull back to trap.

Note

As long as RSI is above 40

Note

ES has nice setup for continuation. There is a hidden divergence I found.

Note

So far this still plays out. Retraced 0.618. I entered at $3674. Stop loss at $3625.

Note

We got a problem. This might be a Leading Diagonal. Not sure if this will be ABC or 12345. If we take out $3625, this will be super bearish.

Note

For bear case, looks like bears win. If this continues to $3520, we are going to short at $3800 to $2200. This is going to be it.

Note

If SPY couldn't hold $360, I expect it would bounce it at $350 and reject at $410 in middle of November. $400 is is 0.618 of the retracement. We can short there.
This is my plan I would like to share.

thienlovv

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.