SPY - SHORT
No buyers today. Great day to start short and just watch the profits accumulate.
This is the 2-day chart for SPY. We haven't had a significant pullback since September. We're overdue. I've highlighted in orange the bowl price action is working towards. If we get to that low is another question. If we hang out at these prices, we'd need to trend sideways for more than a month before we're anywhere close to the mean metrics. I'm guessing the market will push prices lower quickly to motivate buyers to show up. With price action falling the way it is, stop-losses are being triggered all day long.
This is the 2-day chart for SPY. We haven't had a significant pullback since September. We're overdue. I've highlighted in orange the bowl price action is working towards. If we get to that low is another question. If we hang out at these prices, we'd need to trend sideways for more than a month before we're anywhere close to the mean metrics. I'm guessing the market will push prices lower quickly to motivate buyers to show up. With price action falling the way it is, stop-losses are being triggered all day long.
Note
Aaaaand shorts closed. Profits taken. Hungry hippos time for the big dogs. My guess is they're going to fuel a tear up leveraging all the short positions opened today.Note
Buyers showed up @ $369. I'm looking for another fall to $366 tomorrow AM and bounce. To higher highs? ATH's? This short wave may be more brief than us bears would like. Don't fight the tape. Ichimoku clouds are quite useful on the 15-30m charts.Note
Price action is slowly digging its way out of the abyss. Not going long. Just eating popcorn and watching. Power hour crew is here. Expecting a massive volume sell into close.Note
Former support turns resistance: $373. Back down to $369 into close.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.