ChrisPtaco_32

SPY - Pullback before blowoff?

Short
AMEX:SPY   SPDR S&P 500 ETF TRUST
I took some puts on the SPY this week as I think it will pull back a little bit before we see a monster rally and blow off top. It broke the 12 year trend line in after hours and I think it has some more downside to come. The $340 level is my first target and anything less than that I will be attacking to the downside aggressively. We could finally be seeing fear coming back in the market as covid cases rise, further lockdowns looming, no stimulus in sight, and a potentially ugly transfer of power for the new President. I am way more bullish than I am bearish at this moment due to the massive amount of liquidity injected by the Feds, but we are in a very pivotal moment where anything can happen.

This is not financial advice. Good Luck!

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out