SPY: Currently Testing the Final Support

2 oct. 2023

SP500 has broken through several supports this past, coupled with intense market fear and negative sentiment. Last week I alerted the previous support breakout. Puts that were opened on this date have a realized 170% gain.

I believe sustained price levels under this support will signal a continuation of the bear market.
Short positions will be opened after this confirmed breakout. Watch this level.

5 oct. 2023

Note

As expected we are seeing a temporary consolidation as the bulls/bears fight at this level.

I believe price will continue to decrease after this breakout from supply. Expecting increased volatility as we move out of this consolidation pattern.

Puts open trade active.