We are setup to fail on SPY. Overbought RSI, consecutive ATH's...but we have more room to run.
$319 seems to be ultimate top before we are in the RSI 90+ zone.
We can look to enter positions for Puts or shorts with 30 day time horizon once RSI breaks trend.
Once RSI breaks trend, price can lag so account for possible time when purchasing options.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY and short AAPL.
$319 seems to be ultimate top before we are in the RSI 90+ zone.
We can look to enter positions for Puts or shorts with 30 day time horizon once RSI breaks trend.
Once RSI breaks trend, price can lag so account for possible time when purchasing options.
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY and short AAPL.
Note
CNBC - SP500 Ready for 10% Pullbackyoutube.com/watch?v=V0AmWAiwiwo
I am currently active in this position with a Put.
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.
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.