Be weary this short bullish developement can consequently short squeeze the bear rally for the summer, making a pause the downward problem, but if a lower high does develop on the rsi later this year, thats a confirmation continuation, which i still suspect the bear market to continue, as this lower high will reset the wave count theory.
meanwhile, the objective is to rebound to 430 retest, but SPY gotta fight the following ranges;
1: 404
2:408
3:416
4: 430 - and i expect a reject afterward.
without a doubt we will se a cycle rotation from puts to Calls regardless the market environment that comes before us.
this is not Financial Advise, not certified in any form for the markets.
Always do your own due diligence. theres a possible chance for a meltdown, but we just exhausted the run away gap down.
meanwhile, the objective is to rebound to 430 retest, but SPY gotta fight the following ranges;
1: 404
2:408
3:416
4: 430 - and i expect a reject afterward.
without a doubt we will se a cycle rotation from puts to Calls regardless the market environment that comes before us.
this is not Financial Advise, not certified in any form for the markets.
Always do your own due diligence. theres a possible chance for a meltdown, but we just exhausted the run away gap down.
Trade active:
RSI Became invalid, but still doing bullish reversal development (but it will be weak), just be in the lookout and careful monitoring, i will update soon for more
Trade closed: target reached
