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Market has found support. No more bad news can come out. Market is oversold. R/R long side is good from here. Indicators building higher lows and higher highs. Short squeeze is coming.
Just a quick little sketch of what I see in SPY for the coming days either scenario can happen at any given time as you can see Donny tweeted everything at just the right moment. Going to keep this one simple. Red Resistance now support and yellow is the stop marker if one decides to trade this. Below yellow and things can get spicy. Good luck everyone.
Play the upward channel this wont resolve downward until next election or some very sneaky news IMO. Plenty of fuel for the upside here. VIX hovering at 12 and dropping is a good sign for longs.
This is a short term trade. Up to 3 days. Probably not longer for me. -Hourly Trend is bullish -Gap closed, followed by bullish engulfing candle -We appear to have found support on the 786 fib retracement from the high set in September 2018. Why not go for all time high again? -trend line drawn from major tops suggest we create another all time high before a...
Ended up taking a small loss on SPY calls in the morning as I was quick to cut the loss as I realized tons of selling pressure as well as the break of support trendline in the morning of todays open. If anybody took puts at the open as I mentioned I would do, you should be sitting on some nice profit right now, I would lock that profit here as SPY is at another...
Stayed long @ 195.23 on SPY.... Lets see how these play goes.
My approach was simple, be patient and do not get greedy. I used nothing more then a candlestick chart, volume, and trend lines to formulate my plan. The weekly chart was my big overall picture, I would then repeat the process on daily and hourly charts. I would wait for the opportunity for when the market would come down to its trendline, and buy when the...
Long over 21.70 via Dec 22-24 calls. Earnings coming up next week. Will trim half prior.