Trading in Major Market Downturn and Weakness

Looking for market reversal to come in this week.
Buy Entries marked by Green Target. Short-Sell Entries marked by red target.

Will post any buy or sell entries to the WTT Blog if we are able to accumulate any positions.

Comment:

The S&P 500 closed above a key price level today. I have not been able to accumulate a Long position yet, but I will consider buying dips in the short-term in anticipation of an upward move toward 2700 (/ES ).

Price Levels to Watch: (/ES - E-mini S&P 500 Futures)
Resistance: 2650-2700
New Support: 2350-2400

Price Levels to Watch: (SPY - S&P 500 Spdr ETF)
Resistance: 264-269
New Support: 237-242

To confirm short-term bullish sentiment, we will need to see a close above 2400 (/ES) tomorrow, 3/25/20.

Short-Term market view: Bullish
Overall market view: Bearish

Trade active:

Short-Term Bullish Sentiment remains. Expectation of a move toward 2,700 (/ES - E-mini S&P 500 Futures) or 270 (SPY - S&P 500 Spdr ETF)

I currently have an order to sell short SPY at 273.15 (1/2 position). Will make it a full position if the S&P trades higher.

for SPY Chart with trade entry targets (end of day 3/25/20) :

Trade active:

Upward move continues as expected today (3/26).

Upcoming Trade Target: SPY: 269-274 1/2 Position Short

Currently have limit order set to SELL SHORT SPY at 273.25.

Trade active:

s&P 500 now trading into range for potential trade entry.

Market very bullish here ahead of the open on Tuesday April 7th. Nevertheless, will be sticking to plan here and entering 1/2 position this morning, most likely within the first hour of trading.

Limit order off.
Will post my trade entry here when I take it..

Comment:

Short 1/2 Position SPY at 273.25

Trade active:

See Spy chart below for current trade analysis.

Current Position: 1/2 Position SPY $273.25 SHORT
Current Plan: Hold.
Future Plan: Consider full position SHORT at 285-295 SPY if market trades higher.

Short-Term market view: Bullish
Overall market view: Bearish

Short-term rebound is still in play, but could fall apart at any time.

Trade active:

Sell Short 1/2 position at 279 SPY
Full position now with average entry of 276.10 SPY

Will not defend this 2nd half position. Needs to fall asap.

Trade active:

Cover 1/2 Position SPY at 279.
Currently holding just the 1/2 position originally bought at 273.25

Comment:

Correction to my wording:
Currently holding just the 1/2 position originally SOLD SHORT (not bought) at 273.25 SPY.

Note, SPY resting on key price level at 278-279, a breakout higher on Monday must quickly be rejected or SPY will shoot for 300 next.

Trade active:

SPY has reached the base of the target range to sell short

Continue to hold 1/2 Position SPY (Sold SHORT at $273.25)

Consider 285-295 on the SPY for the next short entry.
Note, expectation of an upcoming pivot is speculation as market remains bullish in the short-term. Exude caution in betting against the bullish action.
(I will post any trades here when I make them)

Short-Term market view: Bullish
Overall market view: Bearish

Trade active:

This morning's action is directly in-line with our Market View. Pierce Above key resistance right into our buying range followed by immediate sell-off. Looking to get the second half of our Short Position today for a full position.

Looking to SELL SHORT -> SPY $287.75

Comment:

SHORT ENTRY Filled at 287.40 SPY

Trade active:

Currently holding full position Short Entry on SPY with an average price of $280.33 (1/2 at 273.25 and 1/2 at 287.40)

Technically the S&P 500 charts are still Short-Term Bullish, but I am anticipating that the Pivot is in with a high of 294.88. The high end of my 285-295 Target Entry Range.

288-289 is key level to watch. Our trading plan continues to play as expected.

I will post any trade executions as I make them.

Short-Term market view: BULLISH, but I expect this view to officially change to BEARISH anytime.
(I'd like to call the short-term top as in, but I can't technically do so yet)

Overall market view: Bearish

Trade active:

Bullish activity threatening our SHORT strategy view today on 5/18/2020. SPY trading at the high end of our SHORT-SELL entry range at $295. If selling does not come in either end of day today or tomorrow, consider exiting SHORT position.

Any trade activity will be posted here in this thread. Still significant psychological price level above at $300 on SPY. Look for it to act as resistance.

Short-Term View: Bullish
Long-Term View: Bearish

Trade closed manually:

Exited Short position today at 302.09 on the SPY
This represents a total loss of -7.7% from the average entry of 280.33

I was a little too early on the short. I will look for more opportunities to short again if this market bounces back toward the previous highs.

Flat for now and waiting for next setup.

Short-Term View Bearish
Long Term View: Neutral

Will consider shorting any bounces to retest the highs.
7.7% Loss