SPX Retraced to DOWNTREND Line - Short it from the Fib
Updated
C.P.I number will be a catalyst ....and since the FEDS are signaling another .75% hike next following week
This bounce had no Volume to support it
FOMO retail
Now we are done and can see a Red Week
Moving Averages become the resistance on the way down
ES FUTURES ROSE FURTHER AND TOUCHED .618
Es1 and QQQ @307 AND US100 rose to June resistant Levels --
Huge Bear Flag on the Futures
See attached idea
A song for times as these
And the solid candles' red glare, the gamma bursting in air,
Gave proof through the night that our SHORT was still there.
O say, does that open Put yet wave
O'er the land of the free and the home of the brave?
This bounce had no Volume to support it
FOMO retail
Now we are done and can see a Red Week
Moving Averages become the resistance on the way down
ES FUTURES ROSE FURTHER AND TOUCHED .618
Es1 and QQQ @307 AND US100 rose to June resistant Levels --
Huge Bear Flag on the Futures
See attached idea
Headwinds To overcome
Fed Trillion Dollars of Bonds to UNLOAD on a Falling Bond Market
Fed Raising Rates – Devalue the Growth Stocks
Europe De-industrialization – Recession
China Real Estate Meltdown
Energy Crisis – Destruction of Consumer Spending
Strong Dollar – Hurts US Sales – Exports
Rising rates – Real Estate Melt Down
A song for times as these
And the solid candles' red glare, the gamma bursting in air,
Gave proof through the night that our SHORT was still there.
O say, does that open Put yet wave
O'er the land of the free and the home of the brave?
Trade active
Short QQQ and SPY options. EOM expirationTrade active
May close out after FOMC
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