455s - How odd? Who knew! lol
So I post the boundaries for SPY every weekend for the following week. I say this is one deviation if it doubles it, this is two deviations. If you hit two deviations, the market either goes sideways or more than likely the market makers reel the market back in. This week 428s is the floor, 455s is the ceiling for one deviation. Right now we got a little outside of that... two things are going to happen. Either we fly up to 460s the rest of the week or we go sideways or come down. I said yesterday I would not be surprised to see some chop. So lets see. We can either start to head down now, keeping the H&S pattern or we fly up to the 460s for the gap fill. We are in a little awkward position right now, outside of the bear flag but rejecting off the wedge, which is what we want to see. A re-test and reject.
As I look around.. did I say I nailed FB today into after hours? I saw that 247 from a mile a away. Well as I look at other stocks I see everything pretty topped out as well. I have about 10 stocks I am short and all look pretty much at the top and ready to come down. An example.. HD I think is ready to come down to the 320s.... it would be awkward to see anymore upside from here. So with that said, I think we start to head down. Maybe a bit of a grind down... well see. , I will leave that up to you. I will mark this neutral since the bulls seem to get all pissy, but just know, I am as bearish as F*** and making a shit load of money doing so. The market is a bear market, whether you realize that yet or not.
If we stay outside of this flag pattern and start CLOSING inside the wedge.. I will leave the 460s on the table. I doubt it gets there though, I really do but there is always that chance. Just keep it in the back of your mind to play it fair. Like I said yesterday, I would have no problem shorting shares on SPY at this point. None what so ever.
As I look around.. did I say I nailed FB today into after hours? I saw that 247 from a mile a away. Well as I look at other stocks I see everything pretty topped out as well. I have about 10 stocks I am short and all look pretty much at the top and ready to come down. An example.. HD I think is ready to come down to the 320s.... it would be awkward to see anymore upside from here. So with that said, I think we start to head down. Maybe a bit of a grind down... well see. , I will leave that up to you. I will mark this neutral since the bulls seem to get all pissy, but just know, I am as bearish as F*** and making a shit load of money doing so. The market is a bear market, whether you realize that yet or not.
If we stay outside of this flag pattern and start CLOSING inside the wedge.. I will leave the 460s on the table. I doubt it gets there though, I really do but there is always that chance. Just keep it in the back of your mind to play it fair. Like I said yesterday, I would have no problem shorting shares on SPY at this point. None what so ever.
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