JohnnyBullXRP

SPY Hidden Bearish Divergence is Back

Short
AMEX:SPY   SPDR S&P 500 ETF TRUST
Very clear on the 1 hr and now 4 hr charts for some hidden bearish divergence (possible continuation of trend) which was selling. We hit the .382 fib from previous high to low. I am buying puts for my next target which is the .382 fib to the downside around 306-305 area.

It is possible that we move slightly higher to the .50 or even hit a full measured move of the possible falling wedge but i have what i need to start shorting

Comments

I made the same analysis, its on the Dow and Salesforce too. I'm already in short positions, I didn't think it would break that price level and I'm proving correct. It would be a blatant break of market structure, we're either trend down or going sideways, trending up makes no sense right now.
+1 Reply
JohnnyBullXRP RadCapital
@RadCapital I agree I’m a pissed off bear right now
Reply
You're doing great
+1 Reply
Looks legit nice work
+1 Reply
Agreed
+1 Reply
It was great to see you work
+1 Reply
Good idea
+1 Reply
Great spot! Thanks
+1 Reply
JohnnyBullXRP ProfitHarvest
@ProfitHarvest, no problem!
Reply
looks legit
Reply
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