SPY , My thoughts and plan for tomorrow
I had really good day, made 10 trades and only 2 failed.
Swinged TZA (short leverage on small cap) from yesterdays highs and made good 8% profit on large position.
Today was mostly scalping and one longer trade with bull small cap (TNA)
My plan however changed, I wanted to go short again EOD, but SPY was just too bullish to give me that confidence.
IM ALL CASH NOW.
The reason is SPY is at the fragile moment, feds can brrrr and SPY may jump over the resistance, so best is wait and see.
TECHNICALS
SPY is still in hourly bearish channel, near resistance, Ill be checking at night US500 for clues and give update tomorrow morning.
Today was hourly bounce, nothing else, unless we have clear confirmation in the morning.
Tomorrow I will see where SPY is heading based on my channel, if it brakes it, I will increase my position on RIDE and swing TNA over few days.
If SPY cant brake resistance (around 391 tomorrow morning) I will go with big position with TZA (shorting)
I took very smal starter position on RIDE, which was punished by shorts and start showing signs of a bounce.
however , I dont recommend going long with anything yet !
NOte: I no longer use UVXY (VIX) its not tradable, unless there is a WAR between china and US or something like that :)
Good luck everyone !
Swinged TZA (short leverage on small cap) from yesterdays highs and made good 8% profit on large position.
Today was mostly scalping and one longer trade with bull small cap (TNA)
My plan however changed, I wanted to go short again EOD, but SPY was just too bullish to give me that confidence.
IM ALL CASH NOW.
The reason is SPY is at the fragile moment, feds can brrrr and SPY may jump over the resistance, so best is wait and see.
TECHNICALS
SPY is still in hourly bearish channel, near resistance, Ill be checking at night US500 for clues and give update tomorrow morning.
Today was hourly bounce, nothing else, unless we have clear confirmation in the morning.
Tomorrow I will see where SPY is heading based on my channel, if it brakes it, I will increase my position on RIDE and swing TNA over few days.
If SPY cant brake resistance (around 391 tomorrow morning) I will go with big position with TZA (shorting)
I took very smal starter position on RIDE, which was punished by shorts and start showing signs of a bounce.
however , I dont recommend going long with anything yet !
NOte: I no longer use UVXY (VIX) its not tradable, unless there is a WAR between china and US or something like that :)
Good luck everyone !
Comment:
another reason Im almost all cash is that US500 jumped back into the pennant, thats very bullish.
