TTMTrades

SPY $375 to $372 Pullback, Now What? $280 Rally

CME_MINI:ES1!   S&P 500 E-mini Futures
So now what, we got the $375 to $372 pullback we talked about in my last post (Made a little over 200% on that play) but what now....The Daily chart has hit a key area of support, so im looking for some slight consolidation before we try and rally back to $280. Once we get back up to $380 we either break through and start our way up to $400 or we get rejected and start a much deeper pull back to around $345 to $350. Are we still in a day to day uptrend, Yes...BUT IF we lose $369 then we could possibly go into a free fall into those deeper levels. RSI on the 2 hour chart has pulled back around the 40 Area, which is a key area I watch for consolidation entries. For now im locking in some short term calls for a quick rally before seeing where to go from there.

To The Moon Trades
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