Just ignore the news ..... looking for bad CPI tomorrow but the market will say ouch... possibly a gap down BUT...... well then comes the tricky part or not so tricky.
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Not expecting anything dramatic the rest of the day. Drama comes tomorrow. Enjoy guys!
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Ill just throw up a post up here to answer what seems to be alot of the same questions... surprised how far it came down already. Well, 376 needs to hold. If not, buckle up!
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It's either a gap down tomorrow or up. Place your bets.. Everything is at a key level. I knew 376 was coming but was expecting it to hold (for now). No position currently in SPY. I am all out. I will let this play out before going back in. We break down, I will get long after we do the drop. We go up.. I am patiently waiting for my short position which I will be patient for and think it wont be till next week.
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I would be careful being short here.... there are many reasons for this to move on up from here. Just short term. Trust me, this is a bear market but green shows up in bear markets.
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Hahahaa.. I am cracking myself up.. I just looked at one other chart for a cross reference and I can see the argument to come down tomorrow to. That actually puts things exactly in the direction I am looking for almost to the dollar for a few months from now. It literally is a toss up.. I see both sides very well, which is why I am out of SPY for now... I have plenty of other stuff still on, I removed the SPY risk and even a little NIO that I have been short since the 23s. Just because there may be better entries. If not, I will make it all back, the opportunity I may miss on some. No big deal. Good luck for those holding into tomorrow! We shall see!