SPX500 - Will this be the top of the Dead Cat Bounce?
Looking at the SPX500 Futures:
1. Looks like we could be at the top of a Dead Cat Bounce
2. If this is not the top, a potential tap off the 200 EMA would be where I would expect it to dump
Fundamentally due to covid and the world being under house arrest, I would not expect markets to continue to rally and I am bearish as you can be on a Macro Level.
Technically this is presenting a great short opportunity on open. I will go in with 50% of my position around where we are when we open, the other 50% I will add at the 200EMA and set a stop above it with room for a wick just in case.
Trade, Chart, Learn, Repeat
Coach K
1. Looks like we could be at the top of a Dead Cat Bounce
2. If this is not the top, a potential tap off the 200 EMA would be where I would expect it to dump
Fundamentally due to covid and the world being under house arrest, I would not expect markets to continue to rally and I am bearish as you can be on a Macro Level.
Technically this is presenting a great short opportunity on open. I will go in with 50% of my position around where we are when we open, the other 50% I will add at the 200EMA and set a stop above it with room for a wick just in case.
Trade, Chart, Learn, Repeat
Coach K
Comment:
Looking like we are struggling a bit to go toward the 200ema lets see how this plays out
Comment:
Had the Daily TD 9 print today! This will drop soon patience and anticipation time