Just the simple facts - no pipe dreams
This week, the market is looking to move $14 on SPY. Mark your charts off from Fridays close. Add this on, to the upside, to the downside. Those are your boundaries. This is what the market is looking to do. If we move to two standard deviations, double that number and at that point the big boys need to reel the market in for the week. Sometimes we can go sideways and close at the second deviation but more frequently, they pull the market back in a bit towards the first.
For those that are talking all time highs, you seriously have no clue what you are doing. That's all I am going to say. I will keep this neutral so I dont get a bunch of pissy comments on here. The little kids have a way of getting upset when they see their money getting flushed away. I will just say this, big money and experienced traders are just waiting to sell off any long positions they took on Friday and pounce on a short position. Why? because this is a bear market whether you realize it or not. Experienced and skilled traders know it is.. maybe you don't but work on that.
Anyway.. good luck guys! I know the snow has hammered a lot of the East coast and even Florida is in a cold snap. So hope everyone is safe and getting by ok.
For those that are talking all time highs, you seriously have no clue what you are doing. That's all I am going to say. I will keep this neutral so I dont get a bunch of pissy comments on here. The little kids have a way of getting upset when they see their money getting flushed away. I will just say this, big money and experienced traders are just waiting to sell off any long positions they took on Friday and pounce on a short position. Why? because this is a bear market whether you realize it or not. Experienced and skilled traders know it is.. maybe you don't but work on that.
Anyway.. good luck guys! I know the snow has hammered a lot of the East coast and even Florida is in a cold snap. So hope everyone is safe and getting by ok.
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.