Restraint at the highs

OANDA:SPX500USD   S&P 500 Index
πŸ“Œ SPX has had its advance cut off; an attempt to cap it from the reckless advance allows the possibility of a panic blow which is decisive and impulsive in such situations, namely the invasion towards the pivot .

This idea illustrates the stratagem of a major high against a 'positive' news flow.

Since the Vol expansion is necessary for the defence of the highs, an exchange at 21/22 is the way we defend. You should memorise this move of forcing our opponent to make up their mind, after clearing the positivity newsflow around vaccine and etc we are going to have 'diversion' introduced. This should be considered playing against, contested elections and uncomfortable positioning from stimulus expectations leaves the entire board looking vulnerable.

Thanks as usual for keeping the feedback coming πŸ‘ or πŸ‘Ž

Comment: Very little to update


If you believe the chart that you have drawn then you should short everything that you can. Let me know how it turns out for you.
+5 Reply
we had blowoff top with vaccine news.. volume is so thin its running on fumes I don't see any more news, events that could keep this monseter up. but as we know, in this market more lockdowns, defults, bankruptcy are all bullish so who knows maybe wee rally past 4000 ...
+5 Reply
yupyupyup Phoenixgm
@Phoenixgm, Negative rates and Janet Yellen calling for direct Fed intervention by way of direct stock purchases.
Phoenixgm yupyupyup
@yupyupyup, I doubt they will put negative rates, and this talk is from 2016. and it sounds more like last means resort not an active policy. I would actullay say they are preping for stock market crash not to popel it over 4000.
yupyupyup Phoenixgm
@Phoenixgm, I hear u
The dump is clearly overdue, the stock market has been hanging on a tight rope for a few months now.

A post thanksgiving "back to reason" dump would make total sense.
+4 Reply
Let's see what happen to this market, i also have the same view
+1 Reply
Still a sell?
ridethepig lu1977hk
yes @lu1977hk, as long as the highs are holding there are no changes
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