S&P 500 IndexShort
SPX PATTERN RECOGNITION
Updated
We have the same number of gaps with similar style and strength:
1)Gap & go
2)Gap & go
3)breakaway gap
4)runaway gap
In addition to the gaps, the MACD, stochastic indicator, Williams
R patterns are all identical to the one we saw back in March 2022 to June 2022. With the same criteria it is impossible to have a different out come given such hyperbolic equation.
Long story short, if you are long , it is only right to take some profit, it will be a crime given such situation and you did not take any action to protect you profit given the fact it is already end of the year for many traders, even banks are trimming down their positions as they don't want to blow a hole in their PNL which I am 100% sure any damage done at this point in time it will not be repairable.
With the profit you locked in on SPX, you can put 30% of that profit to short the market, in the event you are wrong, it is zero cost only opportunity lost. This is exactly what I did with my
QQQ longs, I booked my profit and use the profit to buy longer dated put options on QQQ, it is zero cost to me , if i am wrong , i am not losing sleep , just my lunch money, i can survive with PBNJ
Anyway good luck yall and happy thanksgiving...cheers!
1)Gap & go
2)Gap & go
3)breakaway gap
4)runaway gap
In addition to the gaps, the MACD, stochastic indicator, Williams
R patterns are all identical to the one we saw back in March 2022 to June 2022. With the same criteria it is impossible to have a different out come given such hyperbolic equation.Long story short, if you are long , it is only right to take some profit, it will be a crime given such situation and you did not take any action to protect you profit given the fact it is already end of the year for many traders, even banks are trimming down their positions as they don't want to blow a hole in their PNL which I am 100% sure any damage done at this point in time it will not be repairable.
With the profit you locked in on SPX, you can put 30% of that profit to short the market, in the event you are wrong, it is zero cost only opportunity lost. This is exactly what I did with my
QQQ longs, I booked my profit and use the profit to buy longer dated put options on QQQ, it is zero cost to me , if i am wrong , i am not losing sleep , just my lunch money, i can survive with PBNJ Anyway good luck yall and happy thanksgiving...cheers!
Trade active
spx really need to move a little higher to close he gap at 4567, potentially 4650
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