$SPY - Summer 2018 - 01/17: bearish. 01/18: Officially, bullish
Updated
Lemme get this in before the day starts because realistically - if you're short, save yourself the time and either hedge or just get long and stop being so fucking annoying. A long time I went with either getting burned while everyone was bullish - & it's just ironic how sentiment is probably the biggest lagging indicator in the market to be used as a "helping hand" on finding the trend. I'm not ecstatically bullish, as of yet. But I've seen this pattern p.l.e.n.t.y of times before and had I had the foresight to see it forming - I would've been quick to switch up sides. But telling you, for now - be bullish. Without getting into personals on individual sectors & how they look - the S&P has room to run. So just take that as is and let it play out. $271.87 personal target price. But I wouldn't be surprised at all to see it run a bit more before another pullback worth getting into.
Trade closed: target reached
I'll leave it at this. Will see a re-test of the highs sooner than later, but from there - I'm bearish
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