Gotta love the man Tone Vays, I listen to him ramble almost every day. One thing he's mentioned a couple of times, is that double-bottoms are meant to be broken. I'd already have shorted this shit at 2700+ (see prior post), but let's see if old Tony still has it. I haven't heard him comment on the SPX recently, he's been bullish this year as far as I know. This is just a trade using one of his famous rules, and a great way to test it out.
Reason for trade: Double-bottom on technicals, using Tone Vays rule. On a fundamental level, we have the Facebook hack, and the tech sector overall doing poorly (Apple no longer using Intel chips, Trump lambastes Amazon etc etc). Also this market is a bubble
Timeframe: A week or two
Indicators used: Hmmm, history?
Shoutout: President Donald "Grab 'em by the pussy" Trump - enjoy it while you still can mate, soon you'll have a recession on your hands and I'm excited to see you squirm!
No price levels in this, it's merely a paper-trade to test the shitstorm of technical and fundamental things going on in the SPX and US market overall right now
Reason for trade: Double-bottom on technicals, using Tone Vays rule. On a fundamental level, we have the Facebook hack, and the tech sector overall doing poorly (Apple no longer using Intel chips, Trump lambastes Amazon etc etc). Also this market is a bubble
Timeframe: A week or two
Indicators used: Hmmm, history?
Shoutout: President Donald "Grab 'em by the pussy" Trump - enjoy it while you still can mate, soon you'll have a recession on your hands and I'm excited to see you squirm!
No price levels in this, it's merely a paper-trade to test the shitstorm of technical and fundamental things going on in the SPX and US market overall right now
Note
booounceNote
Trump's plunge-protection team are still out in full force it seems. He's also being buddy buddy with Xi Jinping from what I hear. This is calming the tension around a trade war.
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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.