dereckcoatney

SPY Should Resume Downtrend Now

Short
AMEX:SPY   SPDR S&P 500 ETF TRUST
The three wave bounce out of the wedge that I anticipated appears to have completed today. I expect we will now head down to the original broadening top trend line next, where I do expect another bounce.

Comments

Oh yea, 3180 is likely bounce here, 3300 should have a bit of holding power. 2850 lookin like likely bottom of this downchannel, maybe 3k can catch it though.
+2 Reply
Any idea why r2k seems to be strong now ?
+1 Reply
@akatsiya, Not really. I took a huge short position in it today.
+2 Reply
akatsiya dereckcoatney
@dereckcoatney,
Me too. Hopefully will be rich soon
+1 Reply
poister198 akatsiya
@akatsiya, still a bull market short-medium term, you should never short a bull market. Would agree with @dereckcoatney at 321 support, and would only buy the dip.
Reply
akatsiya poister198
@poister198,
You should never say you should never
Say this to your children
Who are you anyways ?
Why are you teaching me?
Choose your language. You should never
Are you. A troll ? Or just smart ass
Reply
poister198 akatsiya
@akatsiya, ok sorry, allow me to correct it. You should never short a bull market if you do not want to lose money.

If you want to lose money by all means go ahead and short it. Don't take offense and be so sensitive at commentaries.

Facts are facts: short an uptrend, get burnt. But of course who am i to tell you, right?

;)
Reply
akatsiya poister198
@poister198,
Go long your mama mr troll
Reply
what's the plan boss? see anything new developing? Markets are irrational due to stimulus talks.
Rising wedge on the 4hr I am seeing atm.
Reply
Seriously amazing work, thank you for sharing with us!
Reply
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