scheplick

My thoughts on the stock market today and how I'm approaching it

AMEX:SPY   SPDR S&P 500 ETF TRUST
Hey everyone, I recorded a video. My first of this kind. I breakdown the S&P 500 SPY and my thoughts on markets going into the end of the year. Let me know what you think.

I make an important point at the end of the video: always do your own research. This is just me thinking out loud. I could be totally wrong or maybe I will get it right? Let's find out and leave your comments below.

Key talking points:

2020 election is coming!
Retail traders strong hands or weak hands?
Will another down move come?
I am planning for sideways chop the rest of the year
I am looking for quick swing trades
Keep in mind I got my last positioning wrong! I thought the market would rip higher or grind lower. It did neither. It very slowly went sideways, slightly up. Maybe this one I can get one right? Pure luck if I do! :)
I work at TradingView helping to build charts, tools, and software for everyone interested in financial markets.

Twitter: https://twitter.com/scheplick
Blog: https://scheplick.com/

Comments

Great video analysis. Thanks for sharing. I believe another leg down will happen in the stock market
+3 Reply
If you could remove music in the background that would be great
+2 Reply
scheplick bruno10000
@bruno10000 I’ll turn it down next time I think the music adds a little to the video but appreciate the feedback
+2 Reply
Great vid. Solid set-ups on longer time frames are becoming more difficult to find... So it looks like the chop has arrived for a lot of names. Big moves need to digest! Should be a decent enviornment for scalping if that's your shtick. Thanks!
+1 Reply
@Lanmar well said
Reply
Thanks for sharing. I personally agree with the point that the market is going sideways for the time being because it's testing everyone's patience. Everyone is waiting for the earning weeks, then October or any potential foreign conflicts, or the vaccine. If there is no update, there is less chance that big actions will take place.
+1 Reply
scheplick piscitear
@piscitear yes earnings are so key but how much of this isn’t baked in and how much more can we go without some rebasing of risk
Reply
piscitear scheplick
@scheplick, not much room, then it's more related to the manipulation. The market is under big players' control, I can't see at all now which direction they're driving this market. If they're driving this market up and are looking for poor buyers, I'll wait for some sincere discount first otherwise it's too risky lol
Reply
Love the music! And the information. Thanks!
Reply
you have some good points,appreciate the video....i would think the price action will retest prev high level....QUICKLY from there should be a slow trend downward for the next year considering the damaged economy and pandemic fallout.CHEERS!
Reply
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