I took profits today, SPY is looking bearish to me and I am going to watch it tomorrow.
We may gap up to 380 and then fall hard.
If we gap down, then EOD may reverse.
I wouldn't yet go long, especially over the weekend.
Bearish (high probability)
We have almost reached 380, which is higher low on 1h on my chart
We have bearish divergence on 1h
We have raising wedge, pointing to 380
SPY usually does few lower highs before going higher high.
Angled H&S
Bullish (low probability)
If it brakes 380, test it, then I'll go long until 394-400
Saying all that, market is really nasty, changing patterns so anything is possible.
I just don't like roulette :)
GOOD luck to you all !!!
We may gap up to 380 and then fall hard.
If we gap down, then EOD may reverse.
I wouldn't yet go long, especially over the weekend.
Bearish (high probability)
We have almost reached 380, which is higher low on 1h on my chart
We have bearish divergence on 1h
We have raising wedge, pointing to 380
SPY usually does few lower highs before going higher high.
Angled H&S
Bullish (low probability)
If it brakes 380, test it, then I'll go long until 394-400
Saying all that, market is really nasty, changing patterns so anything is possible.
I just don't like roulette :)
GOOD luck to you all !!!
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if we fall down to 370 and hold , long may still play out. Lets see tomorrow
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Also VIX didn't even blink today
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and so we got squeeze instead of decline.
ho figure :)
ho figure :)