Just ignore the news ..... looking for bad CPI tomorrow but the market will say ouch... possibly a gap down BUT...... well then comes the tricky part or not so tricky.
Comment
⋅
Not expecting anything dramatic the rest of the day. Drama comes tomorrow. Enjoy guys!
Comment
⋅
Ill just throw up a post up here to answer what seems to be alot of the same questions... surprised how far it came down already. Well, 376 needs to hold. If not, buckle up!
Comment
⋅
It's either a gap down tomorrow or up. Place your bets.. Everything is at a key level. I knew 376 was coming but was expecting it to hold (for now). No position currently in SPY. I am all out. I will let this play out before going back in. We break down, I will get long after we do the drop. We go up.. I am patiently waiting for my short position which I will be patient for and think it wont be till next week.
Comment
⋅
I would be careful being short here.... there are many reasons for this to move on up from here. Just short term. Trust me, this is a bear market but green shows up in bear markets.
Comment
⋅
Hahahaa.. I am cracking myself up.. I just looked at one other chart for a cross reference and I can see the argument to come down tomorrow to. That actually puts things exactly in the direction I am looking for almost to the dollar for a few months from now. It literally is a toss up.. I see both sides very well, which is why I am out of SPY for now... I have plenty of other stuff still on, I removed the SPY risk and even a little NIO that I have been short since the 23s. Just because there may be better entries. If not, I will make it all back, the opportunity I may miss on some. No big deal. Good luck for those holding into tomorrow! We shall see!
@otwa2113, thank you.. and well see. What's silly? I would be careful with that but let the charts speak and we will see...
JerryManders
⋅
I think you're underestimating the bounce here - agree shorts should be careful, they are in danger if it gets back above 384.11. Expecting bounce to 400-403 by this Friday. If it can break that it inverts the gamma environment from negative to positive and we can see continuation toward 420-430.
tendency
⋅
strong arguments for both bull/bear in here, no doubt. personally, i shorted the bounce back above 3800 earlier today. looking for a nice drop into the end of the month.
Original_Stock_Whisperer
⋅
@tendency, If you are in shares, you have nothing to worry about. You just might be a little red for a little bit.