The market is currently bullish, and it continues to be bullish until the market says otherwise.
This idea is not to try to be a fortune teller, telling the market what to do, but a possible scenario that could happen so if the market is deciding to act on it, we will have it in our mind and follow its bidding to the downside.
The trend is your friend, so keep listening to it...
Seen this post today 5/22/21 and noticed this was originally posted on 5/3/21 - Using the "load new bars" function it showed the candles already falling directly into the predicted pattern you drew so far, very interesting. This was a simple but great analysis, I'm also expecting a similar move to happen with SPY at 320-350 range, Stoch RSI is showing overbought signals on the weekly and monthly time frame at some point "it will happen".
Price broke out in this current trend around $340 to $350 range. So, following historical price action and your long term blue trend line being the support, the price may revisit that support around $340 to $350.
I have SPX Put butterfly for protection. Might add more puts soon..
Nice analysis.
ZoharCho
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ARCHIDUKE
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you seriosly have a mental illness,
ZoharCho
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@ARCHIDUKE, This is a very nice thing to say, what triggered you?
ARCHIDUKE
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@ZoharCho, your lack of thought in your ideas is what triggered me
abigreen
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@ARCHIDUKE, man, chill .!
You and few others make this forum similar to stocktwits , which is not a complement.
IF you can't communicate in a polite manner, please stop .
wtf2021
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@abigreen, yes , please don't make it like stocktwits.