MoneyPatterns
Short

SPY - Pullback Beginning

AMEX:SPY   SPDR S&P 500 ETF TRUST
I AM NOT IN THIS TRADE.
I am using SPXS instead of shorting/buying puts on SPY .

I will update SPXS chart momentarily.

Chart Details
SPY confirmed Sell Signal on Daily yesterday.
RSI trendline broken confirms downtrend short-term.
Filter dots also verify Bearish trend has started. We need to watch for continuation.
We should see reversion to 10WeekMA around $310 or less. Although nothing is promised.
Blue long-term support line would be good entry for long position – if we get this low.

We still have Fed "not QE" until 1/14/2020.
For those who think Fed Balance Sheet and SP500 gains are not correlated, see video below.
4mins12 secs until 6mins16secs - 2 charts showing direct correlation. https://www.youtube.com/watch?v=eTCHqTKR...

Entry Options
I am entered in SPXS . Please see this chart for trade entry details.

About Me
Thank you for liking, commenting, throwing up a chart, following, or viewing.
I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
I am transitioning to my new website https://www.moneypatterns.com.
Jbird7839 is MoneyPatterns - Same guy - new name. :)
Website will be ready for launch mid-January 2020. Thank you for your patience while I try to juggle everything and maintain the same standards.
Disclosure - I am long BTCUSD , GBTC .
Short term - GDX Bullish , SPXS Bullish , SMH Bearish

Comments

Comment removed
MoneyPatterns TYKANYEVRYCOOL
@TYKANYEVRYCOOL,
YOU -> TROLL - Definition - 1.make a deliberately offensive or provocative online post with the aim of upsetting someone or eliciting an angry response from them.
https://www.google.com/search?client=firefox-b-1-d&%3Bq=troll%2Bdefinition
Have fun with your life ....Go find Tall /watch?v=qW0UP9DOCkQ#
Reply
Interesting, my response was always deleted by the system. Didn't use any bad terms but saying that I'm looking forward to a deeper decline after Jan 14th and the 15th, when US said Phase One is likely to be signed.

Happy New Year and wish you all the best :)
Reply
MoneyPatterns piscitear
@piscitear, It would not let me reply to your comment the other day. LOL
Thanks for your kind comments.
Hope you have a prosperous and profitable New Year.
Reply
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