Fibonacci retracement levels SPY
Updated
Assuming tomorrow opens <278 - we go down and test 265. Assuming we open green tomorrow (>278), we test 68% (292) this week. Short term trend undecided. If we beat 292 and break the cloud, we go up. Long term bearish. Weekly calls if we open green tomorrow otherwise weekly puts.
Note
Clean break on the 50%. Next target 292 (68% fib)!Traded some short calls on couple bounces and made decent money. Wasn't sure if wanted to hold calls overnight. We may open red tomorrow and then shoot up!
Still holding long puts - although seem like the bear market has run out of steam. 68 fib bounce/break will decide if we retrace.
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