Pullback next week for $SPY & $QQQ , re-evaluate July 28
https://www.tradingview.com/x/MsI1fpX4/
On Friday,
NDX had a solid bearish candle, accompanied by huge distribution, and momentum shifted to the downside with MACD and Stochastic have finally rolling over.
Nasdaq heavy weights have extended this rally for so long I cannot imagine this earnings season is going to push this market higher.
https://www.tradingview.com/x/8QClA5KL/
The TTM Squeeze on 15 min timeframe for both Nasdaq and S&P suggest a break to the downside early next week for SPY and QQQ.
https://www.tradingview.com/x/k10YZLsF/
Looking and support and resistance, liquidity levels, there are 2 areas of interest on SPY being $448 and $444.
OVERALL WE ARE STILL IN A BULL MARKET
https://www.tradingview.com/x/AYZUdnON/
Next week I expect a pull back, however, I will be cautious with my short position. In the bigger picture, I'm waiting for $431 to break before establishing a longer term bearish bias. Yes I know the CHOCH is at $437 but the bears have consistently disappointed throughout 2023, getting smoked by these psychotic Moonboys pumping AI stocks.
Conclusion & Position
By now you get it -- I have a bearish outlook next week. Lets see how it plays out and we'll re-evaluate from there.
Friday I took a Short Position on SPY: SPY Aug 4 2023 $452 Put. I will be hedging this position with 1DTE Calls when we bounce at key support levels $448.50 and $444.50.
SPY 
QQQ
On Friday,
NDX had a solid bearish candle, accompanied by huge distribution, and momentum shifted to the downside with MACD and Stochastic have finally rolling over. Nasdaq heavy weights have extended this rally for so long I cannot imagine this earnings season is going to push this market higher.
https://www.tradingview.com/x/8QClA5KL/
The TTM Squeeze on 15 min timeframe for both Nasdaq and S&P suggest a break to the downside early next week for SPY and QQQ.
https://www.tradingview.com/x/k10YZLsF/
Looking and support and resistance, liquidity levels, there are 2 areas of interest on SPY being $448 and $444.
OVERALL WE ARE STILL IN A BULL MARKET
https://www.tradingview.com/x/AYZUdnON/
Next week I expect a pull back, however, I will be cautious with my short position. In the bigger picture, I'm waiting for $431 to break before establishing a longer term bearish bias. Yes I know the CHOCH is at $437 but the bears have consistently disappointed throughout 2023, getting smoked by these psychotic Moonboys pumping AI stocks.
Conclusion & Position
By now you get it -- I have a bearish outlook next week. Lets see how it plays out and we'll re-evaluate from there.
Friday I took a Short Position on SPY: SPY Aug 4 2023 $452 Put. I will be hedging this position with 1DTE Calls when we bounce at key support levels $448.50 and $444.50.
SPY QQQ 
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