eshy

SPY SPX S&P500 SHORT IT - Rising Wedge (Bear Flag) edition

Short
SPCFD:SPX   S&P 500 Index
Bad news here for stock market bulls. Rising wedge pattern has been extremely reliable, this one has confirmed 3 or more touches on both trend lines so i'm quite confident in it.

Flat for now, will check in on Monday and see what happens - break down and i'll enter in a short as quickly as possible. I'm hoping we open green and test the top line once more but i'm honestly not confident that will happen.

Bearish continuation from this pattern will be VERY bad for the market as a whole.
Comment: Wedge break down happening now. Picking up some SPY puts. GL to all
Comment: Deep otm puts crossing 100% profit point. Cheers to all who took the trade
Comment: 4H close about as bearish as possible. Holding for now

Comments

I'm on it. Good luck to you too!
+1 Reply
eshy Tuttocolore
@Tuttocolore, good start to the week
Reply
@eshy, Yes in did it was a good start :)
+1 Reply
I think there will be a pull-back and then down it will go again
Reply
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