Finally bounce !
I think its tracing abc line after a March lows run up.
currently climbing to "b" , should reach something like $287 and then down to $244.
I think "c" will merge with big H&S thats forming.
I wouldn't be surprised If Feds start printing money again at around $287 ; in that case entire setup will go to dust.
Good luck !
PS
I dont have position in SPY as it was painful trying top short it in past few weeks :)
I think its tracing abc line after a March lows run up.
currently climbing to "b" , should reach something like $287 and then down to $244.
I think "c" will merge with big H&S thats forming.
I wouldn't be surprised If Feds start printing money again at around $287 ; in that case entire setup will go to dust.
Good luck !
PS
I dont have position in SPY as it was painful trying top short it in past few weeks :)
Comment:
I went short at 289, hope feds will run out of bullets.
Comment:
nice pullback in the last trading hour; seams to be going according to the plan.
Its a bit oversold on 5min, so I went cash for now and will see whats brewing in the morning.
Its a bit oversold on 5min, so I went cash for now and will see whats brewing in the morning.
Comment:
SPY continues on the weak side. I think it will close red today, supporting the idea. I am on the sideline waiting for clear picture
Lets see if bears come in force and win over Feds