I had daily timing for a reversal today and with QQQ hitting my long time target, I'm confident SPY will also have some kind of bounce (even though it didn't quite make my lower targets). Not much to say except I'm watching for a bounce to 425 for now, and then possibly bigger moves after November 12th when I think all this bearishness is behind us.
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This was interesting that SPY needed further down after QQQ hit the level. I have this as an up week despite the failing move up this morning. It's also a Monday and real moves don't happen until Tuesday it seems. I do believe long for overnight and into a high Friday is the scenario. Then short again as I have more dates coming in with Monday possibly very down, or a high to go short again.
Trade closed: target reached
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Message to the Universe: It was so super cool you offered us the low and date! In the future, please help me to know the actual next easy high so I can stay in for more of the ride. Thank you. And I will mention that at the time, $425 did seem low, but I want to record what I'm getting for answers & try not to second guess or get in the way. It's also nice that my mention of a high this week on Friday was accurate. Heads up for downside. I'll make a new idea.
@elenaec, I suspect so, but don't think it's good to go until after 11/10. That said, I have a hard time looking that far out, so it will it go to new aths? I don't know, but will certainly be digging in for all the information I can get near that time. Today's selloff doesn't bother me too much as I was concerned S&P didn't hit lower targets yet but the Qs did yesterday. /ES futures just got really close to my first target of 4119, so I'd be watching this area down to 4103. I'll keep updating as I have time and see fit.