A long & short

Updated

Here's a contrast between a long on BCH/USD and short on SPY. As you can see Bitcoin Cash is at it's support zone and SPY is near it's resistance area.

Trade idea:

BCH
long = 436
stop = 400
profit = 630

SPY
short = 542
stop = 545
profit = 530

Note

SPY and Bitcoin Cash stochastic comparison on the 1 week chart:

Note

Trade idea:

BCH
long = 375
stop = 350
profit = 630

SPY
short = 548
stop = 553
profit = 530

Note

It looks like there could be an intraday bullish reversal after 11:30EST on SPY today 6/21, even though that's against my thesis here.

Note

From 1950-2023, July 4th average daily S&P 500 Index returns from five trading days before (days -5 to -1) to five trading days after (days 1 to 5). SPY should have a high probability to go down tomorrow 6/28 and up for 7/3 because the market is closed on the 4th of July. These statistics are not absolute.

Options360

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