Bears might be able to make some FAST CASH this week!
Updated
I feel very strongly that this is a possibility. Let me make this clear I am not a bear NOR a bull at anytime.. I am simply a trader. I must look at it from all angles. Below you can see the different angles.
-Bears perspective: We are currently trying to test new highs, but today's gap down shows exhaustion from the bulls. The market will continue to push till we reach a major resistance then a leg down is inevitable till we reach a comfortable support. The major resistance is displayed on the chart along with a time-frame as well.
-Bulls perspective: We fumbled this morning but recovered and are now making new highs from the bounce. This will continue till we reach the 300 mark then after we will hang around that price till a push up or bounce off of the .618 fib (294 or something around there).
Anyway trade smart and wait till confirmation from the market. I will keep this idea updated... it was pretty fun and experimental with the sine waves, but I feel pretty confident.
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-Bears perspective: We are currently trying to test new highs, but today's gap down shows exhaustion from the bulls. The market will continue to push till we reach a major resistance then a leg down is inevitable till we reach a comfortable support. The major resistance is displayed on the chart along with a time-frame as well.
-Bulls perspective: We fumbled this morning but recovered and are now making new highs from the bounce. This will continue till we reach the 300 mark then after we will hang around that price till a push up or bounce off of the .618 fib (294 or something around there).
Anyway trade smart and wait till confirmation from the market. I will keep this idea updated... it was pretty fun and experimental with the sine waves, but I feel pretty confident.
FOLLOW AND LIKE for actually good TradingView posts :D
Note
I'm on mobile right now, but it seems like I was spot on. I'd like to see SPY go test 288 tomorrowNote
I see that I am on the trending ideas for SPY so I am going to let ya'll know the position I am taking. I am grabbing a covered call, meaning both a call and a put, because tomorrow we could be set up for a short squeeze. Basically here is my thought on possibilities for tomorrow I will have a call that expires the 15th and a put that expires next week. Let me know what you guys think... I am always wanting unique inputs on the market.
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