I SPY Divergent RSI at Triple Top
Updated
On low volume lift, an exhaustion gap IMO. Money flow weakens, volume lessens, price moved higher on weak internals. Lower soon IMO. GLTA!
Note
Many authors suggesting possible measured move to 380 from the topping triangle. Gonna need a lot more money flow to move it there. See my Nenstar idea; expect pullback to half the height of the last leg up ~342.
There is a small gap unfilled at 338, might be a magnet.
Note
The small technical pullback on 25 Nov before holiday is likely a fakeout and not the beginning of a bear run. Friday's action on slowest day of year will not likely offer clear direction. Mon/Tues will possibly bull again, watch the internals and indicators if it does.Trade active
SHORTING BOUNCE MONDAY AMNote
Added to shorts in SPY / QQQ / IWM; added SDOWNote
Hold shorts; wiggly bear flag inches higher, secondary break soon IMONote
Bear flagged for 4 hours looks like breaking, watch the close!Note
Good chance this Hanging Man follows with a gap and go down IMONote
ROFLMAO @ Exhaustion Gap!Note
Played the fade; in cash waiting on ?another bull move? All risk atm IMOTrade active
Closed inverse ETFs on gap down; look to short when it fills gap intraday...Trade active
Shorted the gapfill in SPY IWM QQQ DIA 11 Dec ATM putsNote
Added inverse ETFs SQQQ SPXS SDOW TZATrade active
Stopped out of the bear spreads; holding the ETfsTrade active
Volume on Weds lift even less... weakened stim pkg gave a weak boost... second wave worse than the first now... gonna get another lockdown IMO; shorting the ATH in SPY, QQQ; shorting DIA with DJI at 30K again. Shorting IWM near 184. Double topping here IMO; see if we get pushback soon. In Dec bear spreads, added SQQQ, SDOW.Note
Yeah here we goooo....Trade closed: stop reached
Forced out of bear spreads, Fri PM short-covering rally will wipe out putholders IMO; holding inverse ETFs, added UVXY; market will break soon IMO, but who knows how long it can creep higher; good chance for another stupid MOMO rally Monday, not holding puts over weekend; GLTA!
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