Money Printer Low Ink Level Alert!
"PC load letter, WTF does that mean?"
It appears JPows money printer may be running low on ink.
SPY has been showing un-impenetrable strength, despite the global pandemic leaving thousands dead, sick, or out of work. However it appears we're seeing solid resistance at the 0.618fib level on the basic fib channel. This could simply be a breather while the boys upstairs reload the printer with ink and paper as we go to retest the 0.5 level. Things will be interesting if we continue to trade sideways between these two support/resistance levels- which is what I assume will happen for the next ~month (at least next trading week) as we remain hopeful yet waiting still for any tangible positive outcome. Had success with bullish plays this past week. Diversifying my moves with some short term bearish plays, and set up some solid long term bull calls for the year. Naturally i made few small inverse'd plays to protect my funds in case I'm wrong, as can often happen
It's these 'make-it or break-it' moments in trading that really gets my rocks off. A true test of ones ability to confidently pick a side with an executable exit strategy.
Place your bets ladies and gentlemen, things may get interesting.
open to critiques and what you all think?!
Wash your hands, and as always happy trading!
SPY
It appears JPows money printer may be running low on ink.
SPY has been showing un-impenetrable strength, despite the global pandemic leaving thousands dead, sick, or out of work. However it appears we're seeing solid resistance at the 0.618fib level on the basic fib channel. This could simply be a breather while the boys upstairs reload the printer with ink and paper as we go to retest the 0.5 level. Things will be interesting if we continue to trade sideways between these two support/resistance levels- which is what I assume will happen for the next ~month (at least next trading week) as we remain hopeful yet waiting still for any tangible positive outcome. Had success with bullish plays this past week. Diversifying my moves with some short term bearish plays, and set up some solid long term bull calls for the year. Naturally i made few small inverse'd plays to protect my funds in case I'm wrong, as can often happen It's these 'make-it or break-it' moments in trading that really gets my rocks off. A true test of ones ability to confidently pick a side with an executable exit strategy.
Place your bets ladies and gentlemen, things may get interesting.
open to critiques and what you all think?!
Wash your hands, and as always happy trading!
SPY
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