SPY at key level; TD Sequential=9 Against the Bollinger Band.
Very quick post here. The bollinger band on default settings is suppose to contain some 95% of price action and being at the top can signal limited upside. The TD sequential often ends a trend at 9 or 13 so this is kinda a risky place to be be. The red arrows show where you could have made a decent entry in a day or swing trade, at least, and the blue show where you could be taking a small loss with some decent stop management.
My linked post shows how I thought SPX might be setting a lower high and in that post my alternative scenario would be retesting the open of 2020 as resistance, and here we are. IF we can get past the Bollinger band , increasing rate of COVID deaths , the TD printing a 9, and the 3 day MACD bearish divergence we could start a new uptrend and change my bias.
My linked post shows how I thought SPX might be setting a lower high and in that post my alternative scenario would be retesting the open of 2020 as resistance, and here we are. IF we can get past the Bollinger band , increasing rate of COVID deaths , the TD printing a 9, and the 3 day MACD bearish divergence we could start a new uptrend and change my bias.
Trade active:
I opened this trade Thursday with a SPXU purchase.
And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?
~Nathan Explosion
~Nathan Explosion
