SPX continues to trade weak through supports. There are a long list of reasons why it was reasonable to expect a low to be made either today or yesterday and both times we've sold through supports.
I think this is a break but I do also think the more prudent positioning would be to look for a rally to 5650.
Very cautious now as a bear into this drop. Trailing stops. Considering a low might be made somewhere 5500 - 5450 overshoot at the most.
Will pick up some lotto calls for 560.
I think this is a break but I do also think the more prudent positioning would be to look for a rally to 5650.
Very cautious now as a bear into this drop. Trailing stops. Considering a low might be made somewhere 5500 - 5450 overshoot at the most.
Will pick up some lotto calls for 560.
Note
I've no shorts on any more. I think we're bottoming. In or head fakes away. Banked on all shorts 5553Trade active
Very rapid bounce is what this pattern calls for. It's a bull trap thesis, so it should be super strong and aggressive.
Trade closed manually
Profit taken 5620. I think it's a short again now.
We may be inside of a crash event to 3000 in SPX.
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
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.
We may be inside of a crash event to 3000 in SPX.
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
Read the full case with backlog of historic analysis/forecasts here: holeyprofitnewsletter.substack.com/p/the-case-for-3000-in-spx
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.