In my previous post, I outlined where 
SPY rejected off the bear flag resistance. You'll see that those two times correlate with the two times 
VIX tested pennant support. With the third VIX retest, we may see SPY near my gray TL of ~$400 (see related idea linked). I'm still expecting another leg down, and will take a short position if I see optimal R:R (I'll update).
No doubt, today was a boring day for $SPY. As I outlined in my update above, staying patient and understanding the right time to execute is what'll get you the W. Good luck!
SPY rejected off the bear flag resistance. You'll see that those two times correlate with the two times VIX tested pennant support. With the third VIX retest, we may see SPY near my gray TL of ~$400 (see related idea linked). I'm still expecting another leg down, and will take a short position if I see optimal R:R (I'll update). No doubt, today was a boring day for $SPY. As I outlined in my update above, staying patient and understanding the right time to execute is what'll get you the W. Good luck!
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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.