marathon99

Short SPX on Monday if Sell off continues

Short
TVC:USOIL   CFDs on WTI Crude Oil
If sell off intensifies on Monday, I will be shorting SPX . I had been long Spx from Oct Low when Dow crossed 200 MA, and now will be considering selling longs. Something important to note and that is crude oil . As you can see as SPX continued higher, so did crude oil . This was my mistake not heeding it's warning, thinking it will continue up with SPX when it dropped. When Oil did drop huge it never recovered , and this was the big danger signal for SPX and it occurred before the Coronavirus scare which started in Dec 19, 2019 see here: https://www.flickr.com/photos/186259512@...

But Crude oil did bounce off October low last Friday 1/31/20, and if it continues higher then SPX will go higher. If it doesn't watch out below, and the selling can intensify. As you can see from history market took a big hit from virus in the past but did go higher later. SARS took a 8.6% correction and we now have about 3% correction from top. See here: https://www.flickr.com/photos/186259512@...

In regards to Repo I had been stating, I believe if the selling continues then the Big banks will be waiting for a key level to buy back. Fear can be irrational in the markets, but must be taken seriously now at this point.
Comment: I sold all my longs by EOD today 2-4-20. Why? Because oil try to rebound but failed and dropped lower. To me this is a danger signal to SPX. If oil can rebound, then ok but because it failed to rebound today caused me to get out. I can get back in market later, but for now take my money and run.
Comment: Oil looks like it found a bottom, and up we go. Fed pumping is crazy, don't fight it. I'm back in SPX, up we go.

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