What Kinda Kangaroo Ass Bull Trap. Swing Trader's Paradise.
Current move is a SPY 390c which I plan to close out before Monday EOD. If SPY hits $387-$398, ima short the fuck out of it like last time. Lots of macro stuff going on.
All the time frames 2hr and up indicate that Friday's rally has not topped out yet. The yellow line in the middle is a rough territory. If SPY comes bouncing off the lower trend line and breaks through the middle trend line, you have a higher chance of reaching the upper trendline. Vice verse. This is not financial advice, I just chose a line that looked nice with some candle wicks.
SPY can break trend anytime, but it looks like bearish divergence on the daily time frame. I sincerely hope that SPY doesn't go below $370 and back to the $360 to $320 range. With the stimmy, SPY probably gonna hit $420 after 4/20 lol.
Similar to June, September, and October, this is just a really good time to buy the dip.
All the time frames 2hr and up indicate that Friday's rally has not topped out yet. The yellow line in the middle is a rough territory. If SPY comes bouncing off the lower trend line and breaks through the middle trend line, you have a higher chance of reaching the upper trendline. Vice verse. This is not financial advice, I just chose a line that looked nice with some candle wicks.
SPY can break trend anytime, but it looks like bearish divergence on the daily time frame. I sincerely hope that SPY doesn't go below $370 and back to the $360 to $320 range. With the stimmy, SPY probably gonna hit $420 after 4/20 lol.
Similar to June, September, and October, this is just a really good time to buy the dip.
