DaddySawbucks

Bear trap?! Can it bounce here?! Stay Tuned!!

CME_MINI:ES1!   S&P 500 E-mini Futures
Chart says all. IF price follows Jan pullback form, we gonna get a strong bounce to new ATH from here. Else; The End...

NB: An EW impulsive wave completed in MFI outflow on 2/25; RSI could bounce from its TL here, might be a Bear Trap.

IF price is in Bear Impulsive Trend, ship is goin down bowfirst. We had both Bear and Bull traps twice this week already!
Trade with care! Do not leave positions unattended!!

NOT advice, trade at ur own risk, GLTA!!!
Comment: Yeah it bounces, let's see how high...
Comment: It consolidates; made beer money off SPY 379 calls on the bounce today. Let's see where it goes, holding cash over weekend!
Comment: Bought another case of beer on the 383s lol. Not convinced this will become runaway rally, in cash.
Comment: Well well, EOD selloff surprise, slammed right back down to 380 support. Might gap either way Monday, not betting on the next move. Covid relief package in the House now...
Comment: So many traps! Just watch...
Comment: Looks like we have liftoff... likely get some pullback then ATH
Comment: If it bears Weds this idea will be invalidated IMO, shoulda got more lift if its a bull wave, looks like a Fibo retracement rally

Comments

Liquidity and TINA couldn’t last forever.
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Excellent work 👍
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I closed half my shorts today. Just minor profit taking for that exact bounce you mentioned. Left the other half in place in case shit blows up. Otherwise I double down at 4080....which i expect most likely to be the last hurrah at least for a few months. Really hard to predict beyond that, just never know how the fed may tweak things.
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DaddySawbucks kretchfoop901
@kretchfoop901, Had 50k in puts sold it all at 15:45 - 15:59. Just can't leave that kinda dough on table overnight.
Probly get a dead cat then bit lower for the 'h' pattern IMO.
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