On Friday I'll be trading based on this outlook. I'm expecting some gravitation towards to lower part of the range, but don't exclude a bounce before the close.
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Yes, I'm seeing the bull flag and the line of control is to deal with the bull flag.
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and this:
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and this:
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and this too:
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this also:
take a look at the previous patterns
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reminder: don't fall in love with the fall, gradually take profits at fib levels and/or pivots
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i'm not going long here guys, the 4 hr chart is asking me to wait for another bump to short
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i find it highly unusual that SPX is retarded today compared to SPY - it's sign of nervousness in the market imo
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lol, everyone wants a sharp drop and it won't happen because everyone wants it, what else is new?
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22 ema (aka "magnet") on 1 hr is my favorite mean reversal tool, they can write their algos until their eyes pop out
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it's OK to take a small intra-day long here but the intent of the day was to sell not to buy - caution adviced
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i'm staying flat here guys, because the market is flat too
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Because of the SPY - SPX divergence today the options behaved in a weird way. Extremely rare occurrence imo.
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I'm starting to accumulate some shorts here for Monday - very small positions.
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here's the reason for now:
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if the upper line breaks I'll be hedging to neutral
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keeping in mind that anything can happen
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i'm bearish for the next week, but not carelessly bearish, lol
