SPX: Nenstar inside Cypher: Double Shark

TVC:SPX   S&P 500 Index
We got a big 'W' which is Bearish . The right arm of W is lower than the left was; it is a Cypher .

The Nenstar inside the Cyper was a smaller formation with a larger right arm than left; hence, Nenstar.

Both Shark patterns; both 'W's and both Bearish . Get ready to Fill My Gap!!

This is not trading advice and should be taken with a grain or even a full shaker of salt; trade at your own risk, GLTA!
Trade active: Shorted the AM rally and Lo! Bearish, eh?

Headed back to support at 3100, then 3050 IMO; gap to fill at 2865 likely provide springboard for next bull run.
Comment: Closed day trades on the mid-day selloff. Likely bull it up again IMO, another bull flag to grind. Short the rallies!
Trade active: Short QQQ IWM FB. AMAZING divergence, DJI -400, NQ +80 FFS! Balloon POP imminent IMO; the sell the world and buy FAANGs!
Comment: Closed out these shorts for modest net gains in the opening on Friday 7/10. No position over this weekend, IMO FOMO might return next week, useless to guess what Monday will bring IMO.
Comment: Remember: Time is the problem, whether you buy puts that expire or inverse ETF that decay, or borrow shares and pay interest to short, time is the killer.

Shorting is not an investment you can sit on and collect dividends while you wait patiently, it's expensive and risky to speculate.

Betting against the markets is most often folly, but occasionally wildly successful.
Comment: Gap up and double top at 3230; entered bear spreads on QQQ aug 267P, DIA Aug 265P, IWN 142P, short the weeklies in $10 spreads.

Played 'Fade the Gap' on SPY which backfired; bullish as all Hell; shorted the dailies in a 320P calendar spread, it's a push if they expire. Need to close this by EOD a another gap up will kill these weeklies!
Trade active: EOD came out looking pretty Bear, lol. Big gains on these shorts; will it sell more?

IMO the Nenstar completed at double top, pressed 3230 and rejected.

Headed down to 3K IMO; lower if it starts to panic...
Trade active: Closed first short on the morning selloff 7/14; happy Bastille Day!

And re-entered shorts on QQQ, IWM, SPY on midday rally. DIA is more bullish not shorting it yet; looks like "Flight to Quality" IMO
Comment: Bot 2 Jul 263P on DIA for grins, trading at $3 even. See where it goes!
Comment: Another, smaller bear flag intraday. Monday's was terrifically Bullish; this one is weaker by far. Shorting it!

Can the bulls not see how trappy these flags are? Maybe they don't read charts...
Comment: IMO the Mon/Tues selloff is a first wave; headed lower after this weak bounce: GLTA!
Comment: At 3180 we got 50% Fibo retracement. ~3192 would give the 62% from 3230 > 3130; might see it Weds.
Comment: Perfect rising wedge; bear flag to EOD 7.14; happy Bastille Day!!
Comment: Pushing the 0.62 Fibo now 3190; expect stiff resist at 3200; .786 Fibo at 3208
Trade active: Double double top and playing Fade the Gap, again...
Comment: Playing Fade da Gap worked pretty well. Sold vertical call spread and used the credit to buy weekly puts on SPY. Trickyfun.
Comment: Keeping 20 each bear spreads on SPY, QQQ, IWM. Surprise pop in small caps today!
Comment: Reduced to 10 each the sell was too enticing lol! NQ getting ready to go oversold again IMO
Comment: IMO MMs took money out of NQ and pump it into RUT; gapped up $50 (IWM +5); hang there all day fgs. More than half the 2k in RUT will be showing losses...
Trade active: Closed out this last grop of shorts on the 7/16 volatility; look for a triple top attempt with a smaller needle spike to short onto Friday and possibly extending into Monday; next week as we approach end July gonna get real choppy real fast.

PPP and stim progs running out on 31 Jul - 8 Aug. Explosive outbreaks of CV19 in Fl, Tx, CA, disaster redux. Gonna get lockdowns again IMO.

This is a ferocious bear market rally and they all end in bad. Don't get caught in the FOMO FGS; buying August puts now, closed out the Julys for nice gains. GLTA!
Trade active: Played Fade Gap again today; always fun and sometimes profitable. Got 10 each bear spreads on SPY, QQQ, looking to close at EOD. Feeling a bit murky and IMO sitting out over weekend is prudent. RUT has been surprising strength and I just don't trust it. Flipped DIA puts in AM for hefty beer stash. GLTA!
Trade active: Buying SDOW SQQQ SPXS TZA; in bear spreads on DIA QQQ SPY IWM; August contracts, at the money, short the weeklies in $8 spreads.
Trade closed manually: It's bulling


Welcome back to the bears! Kept seeing ya saying we're headed up to fill that high-up gap... Glad we're all focused on the lower gaps again.
+1 Reply
DaddySawbucks farmerisland
@farmerisland, Failed breakout IMO; not gonna make 3330
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