Massive RSI DIV to the brink! I think it's a good time for the correction. It's earnings season but September red is still in the cards. Watch out for the sudden move. I have done a fractal analysis on my previous post. Let's see what comes next.

Cali - Bears
Chicago - Bulls
Yankees do what Yankees do

Just like the old-times folks!

-Team Cali :P @nobullshytrader0 @Moshkelgosha Readyy????
Comment: detailed analysis for trading view -_-
Comment: Cuz "Malo mori quam foedari" Grandfather that shit muhahaha.
Comment: And ya, good wine belongs to cali, just had to put it out there lol
Comment: UPDATE:
Comment: might grab some ES fut options...
Comment: Interested to see FED action today. I suspect it will decide how we are going to trade /ES and /GC
Comment: Interesting, the price didn't move much today.
Comment: can't wait to cash out some of my holdings. Frekin go down already lmfao!
----Stacking Probabilities-----


FED didn't spook anyone, earnings didn't make any dent, appl/tsla/goog weakness didn't raise any eyebrows, internals are weakening, but price remains strong. As more shorts start to stagger, price could float up or stay sideways for a while before the rug pull. Today was the day when something could have happened, but since it didn't, bull case remains intact at least in the short term. I think until 430 breaks, any pullback will turn around to another ATH. And with each ATH, the floor to break number goes even higher.
@mukit1, Thanks for the thoughtful comment. I am also seeing the same thing, however I have to disagree with you on price remaining strong. I think volatility is increasing which is a good sign that the market will go for a correction soon. I am also watching 430 level, if it breaks its going to be a bloodbath. I have some positions open for sept ibb.co/XzbN5C5 , currently at a loss.
mukit1 WaverVanir
@WaverVanir, that is quite a position you have taken. Good luck to you!👍🤞 When I said price remains strong, I am just looking at the monthly chart. It is ridiculous! I have a tiny position opened today for 8/13; bought 5, 430 puts and sold a couple 425 puts for a little debit spread. No where nearly the magnitude of your bet :) Let's see how it goes for next couple of weeks.
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@mukit1, Monthly is still bullish for sure . I have to follow my position sizing rules regardless of PnL for spy trades.
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WaverVanir WaverVanir
@WaverVanir, we haven't tested the apex of the breakout yet.
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mukit1 WaverVanir
@WaverVanir, I closed out of my put vertical trades and flipped to calls yesterday after price faied to break the floor. Might end up making it a butterfly if the chop continues. But today's price action just made the bull case stronger. I was hoping for a small pullback, but market is not ready to give up just yet. However, your September put plays might still be very much alive. It's tough to see things bleed, but your strikes might be in the money. I might follow your strikes if i see a strong rejection from 450 area. Good luck once again!
@mukit1, Sounds good. I have done plays like this before, lets see what happens haha.
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Wow, excellent work! Thank you.
@wardaK, Thank you! I try to do my best :)