Idices
es, spy, day trading for Feb 28th 2020Today the red zone sits right on the over night range and this is a big range so lots of inside trading if we can not break out of this zone. will be looking for higher lows or lower highs to take a inside direction trade that could maybe break out.
A move below the ON session could see a fast drop to 2800.
S&P 500 SPXFear is in the market, reasonably so, after such a huge drop. We haven't seen anything like this since February. Many are suggesting that this is the beginning of the bear market, if you're one of those individuals, I'd recommend waiting for more signs to support that idea. As If things end of playing out the way I believe they will, you will end up with a large loss. Not to say that I am correct and you are wrong, but simply suggesting that there is an alternative count and to be careful, I'd hate for you guys to get sucked into a trap. Expecting a bounce to begin around the 2680 range and followed with strong upward momentum.
AS ALWAYS THIS IS NOT FINANCIAL ADVICE
For educational purposes and a means to share ideas.
What do you think is happening in the market?
I'd like to hear your ideas!
Zerotozeros