SP500 probably "peaked". Powe(r)ll "shocked/Shorted" on 26/7/23?
After reviewing SPX smaller time frame chart and referring back to the "bigger pic". SPX probably at its top "temporarily". P/s. There are many gurus/ textbook written "documented" that E.G : "Market is unpredictable";' Never try to predict the market".. BUT but.. not just Option / Future trading instruments but many others instruments "are designed" for "Big Boy" who has "edge" over retail traders to "Speculating/ Anticipating" Next Market Moves.. E.g Warrent Buffet "Getting his stock's portfoilio "discounted" by "speculating" option..
Last but not least, As many said : No one can predict the long term trend. e.g Monthly, Weekly or even daily market ..See money "in short term e.g 5 min , hourly chart" take money first is their "Trading's motto". BUT tell you what. If we can't tell what the longer chart next moves, we will "failed more" in short term chart, it's like "zooming" into our face's skin.. Silky "SMOOTH" from far But "Lot of cracking" Much more "chaostic" "surface once zoom into 1min, 5min etc "skin face"!!! So trade lesser in higher time frame chart is "Making lesser losing trade with better risk/reward Setup!
Last but not least, As many said : No one can predict the long term trend. e.g Monthly, Weekly or even daily market ..See money "in short term e.g 5 min , hourly chart" take money first is their "Trading's motto". BUT tell you what. If we can't tell what the longer chart next moves, we will "failed more" in short term chart, it's like "zooming" into our face's skin.. Silky "SMOOTH" from far But "Lot of cracking" Much more "chaostic" "surface once zoom into 1min, 5min etc "skin face"!!! So trade lesser in higher time frame chart is "Making lesser losing trade with better risk/reward Setup!
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