This is Analysis of a trade I have been watching since April 27th. I used the SPXU to make the bearish trade so it's hard to tell exactly where I got in but it barely missed my stop loss and now is in profit. I think we will see a new swing low around 2500. I'm basing this alot on fundamentals and white house conferences. It still does not make sense for the market to be rising when companies are making less money and I think the market is starting to correct this discrepency.
Trade closed manually:
I am now out of this trade it seems like an ascending triangle/cup and handle pattern is forming which usually indicates an upward trend.
Trade active:
went long at 2970 hoping for 3100
Trade closed manually:
Choose to take profit here I think we are probobly going down from here.
Trade active:
Opened a short at 3050, feel like the riots almost guarantee another round of covid 19 and short term econmonic loss