Earnings season end may indicate correction.
I dont expect huge correction , crash or bear market in the near future, feds are still pumping 150BL a month, and cheap money will not create environment to do so.
January 2022 would be good moment to think about it, but not yet.
Yesterday I took my profits with target of $420
We may finally have correction in play.
For today along I would imagine SPY may try to close the gap down hole , which is at 420.
Ill be watching levels of support at 417, if we brake down, and SPY is not able to go above it, I will enter short position with UVXY.
IF we have correction pending, then my target would be $411, then next at $400.50
I dont expect huge correction , crash or bear market in the near future, feds are still pumping 150BL a month, and cheap money will not create environment to do so.
January 2022 would be good moment to think about it, but not yet.
Yesterday I took my profits with target of $420
We may finally have correction in play.
For today along I would imagine SPY may try to close the gap down hole , which is at 420.
Ill be watching levels of support at 417, if we brake down, and SPY is not able to go above it, I will enter short position with UVXY.
IF we have correction pending, then my target would be $411, then next at $400.50
Comment:
on the interesting side, I have never seen identical double gap up/down made within 48 hours
Comment:
