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ckomagan
Oct 26, 2018 4:58 PM

SPY LONG - I call bottom here Long

SPDR S&P 500 ETF TRUSTArca

Description

I think we've seen a 10% correction (typical October month reaction). We will start to creep up from here given Fed doesn't do anything silly.

Comment

Remember my call a couple of weeks ago. SPY is trending upwards towards 280 and then 290 by Thanksgiving.
Comments
McllroyCharlee
tradingview.com/chart/1byKLSWU/

what about the five day chart?
ckomagan
@McllroyCharlee, sorry I don't look at 5 day chart.
McllroyCharlee
@ckomagan, Any reason? isn't that limiting you perception of price.
McllroyCharlee
ckomagan
@McllroyCharlee, Hi - I agree that you should look at prices from multiple time windows. Generally I look at Daily, Weekly, 1 hour charts. More importantly I look at MACD/oversold/bought indicators. To me Friday was clearly the panic sell we were waiting for confirmed by the long DOJI signal.
McllroyCharlee
@ckomagan, Personally I think the potential loss of the House of Representatives is being pricing in . Either a sell off if it is lost or a leg up. or the opposite depending on party allegiances
ckomagan
@McllroyCharlee, Possible that is a factor. Also the market is waiting on the outcome of earning season. I am not going in all the way yet, but watching closely.
McllroyCharlee
@ckomagan, Earnings seem to only effect large cap companies to the downside if targets are missed. Question for you, How else do you get exposure to S&P volatility?
ckomagan
@McllroyCharlee, UVXY traded two weeks ago but closed too early. You can see the charts I posted a couple of weeks ago.

I think Intel and FB reported good earnings. If Apple report is positive then market will go higher Imo.
McllroyCharlee
@ckomagan, Personal MSFT is the only Tech I will touch at the moment. Gotcha, yea I've been using the DOG & SH.
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