Are we setting up for a nice SPX Squeeze before the big dump?
I think the idea behind this trade is quite simple. Newer traders may get overly bearish following the downwards trendline, thinking short. This blindside bias may lead to quite a bit of trapped shorts, which may be squeezed if the market continues to show strength into the downwards resistance.
If you look closely, this is actually the first the the market has been somewhat range bound at the resistance. Every other time, we immediately and harshly sold off.
I think there is some strong possibility this market may see some movement up to the 4300 level, before more bears start building short positions.
Only time will tell
If you look closely, this is actually the first the the market has been somewhat range bound at the resistance. Every other time, we immediately and harshly sold off.
I think there is some strong possibility this market may see some movement up to the 4300 level, before more bears start building short positions.
Only time will tell
Comment:
Markets are approaching critical zones, blasting through resistance. Looking for 450-460 on the SPY for potential short. Looks like there has been strength in the market recently.