SPY spikes 2% overnight on really really bad news
Would you invest in SPY knowing that it most likely going to tank next morning.
You wouldn't , but feds are.
My old setup may still play out (large H&S), but it may struggle.
We open with a gap up, I expect sharp sale off at the bell or during unemployment report, then if 282 doesn't hold further pullback tomorrow.
However that chance is slightly overshadow by Feds pumping.
Market collapse, in my opinion is inevitable , when remains unclear.
I get the feeling that they may want to artificially hold it up until elections.
Conclusion
I am going for quick short this morning (SPXS) and will exit if I see sign of bounce.
Good luck
You wouldn't , but feds are.
My old setup may still play out (large H&S), but it may struggle.
We open with a gap up, I expect sharp sale off at the bell or during unemployment report, then if 282 doesn't hold further pullback tomorrow.
However that chance is slightly overshadow by Feds pumping.
Market collapse, in my opinion is inevitable , when remains unclear.
I get the feeling that they may want to artificially hold it up until elections.
Conclusion
I am going for quick short this morning (SPXS) and will exit if I see sign of bounce.
Good luck