Long

Another Push Lower? Right Shoulder Rally Soon?

Updated

Simple idea. Price has drifted closer to S/R line, seems likely to test it soon. Buy that dip, but Bear is not over!

Indicators approaching oversold; FOMC FOMO likely start a weaker rally to a right shoulder; then June Swoon.

Note

Right on schedule!

Note

Ain't lookin good for bulls. If no pop next week this idea is invalidated... bear scare.

Note

Struggles. Creeping higher. FOMC could pop it. Short entry there if so IMO. Big R at 4K

Note

Here it is! Standing on right shoulder now...

Note

Finishing move for this rally on Papa Powell buy your 0DTE cawls at 14:25 on Weds.

0DTE SPY 398c went 400% today...! FOMOOOOOO

Note

So we got a 5-EW minor rally on chart with what looks to be an exhaustion gap. Gap didn't fill today so it probly will fill... soon.

Didn't load up on calls eod cause it occurred to me "This gap might fill right here, now!"

Still got a piece of the action, but Weds Fed day is here, buckle up and hold on tight.

The typical pattern has been, early FOMO, then weakness most of day until the 2pm announcement, wild fluctuation first up then down then up again, and finally a flush until 2:25pm when Papa Powell comes on.

Just the soothing sound of Papa's voice make them want to buy it all back and up to the moon it goes until the closing bell. There a short taken EOD may pay on Thursday. Don't bet the farm cause a few times it actually rose the following day at least briefly.

Trade active

Fairly confident this dog wont hunt and is gonna sell again. Got a hanging man doji on Fed day. Probly gap down next. Short SPY, and NVDA which went stupid overbought.

Trade closed: target reached

Yeah that was it! Hanger turned into a dumper, lol. Gonna tank off now. Next stop SPY 360.

DaddySawbucks

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.