theapearmy

$SPY - Burned ALL Puts since 6/26

Long
AMEX:SPY   SPDR S&P 500 ETF TRUST
On 6/26, in my linked idea: "Burning All Puts" (feel free to play out the linked chart)., I expected us to continue bullish momentum with an upside move (see arrow drawn) despite the ongoing bearish sentiment at the time. Almost 1.5 months later, we are where I had theorized - a long way up and retesting our supply & demand zone. We may likely move higher into the zone, and I'm monitoring closely on an entry to scale in on shorts/puts (@grasegold). I fully expect us to create a new low.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.