Idea on a BULLISH SPY
Be greedy when others are fearful
Almost every post in trading view is bearish calling for a market crash which makes me think we hit bottom for now.
Also alot of traders think they are a stock guru now drawing lines, random EW counts, boxes to make the chart look pretty,...and worst of all HOPING that whatever they drew out on the chart will play out ....
The market will severely punish those who are ignorant and think they can get rich quick ...
Just a warning - Alot of traders are going to get wiped out by paying hefty premiums to buy short positions or options and have the market turn against them.
You gotta understand, ALL the war NEWS is priced in.
AND also the market does not crash during a war .. its quite the opposite. IT THRIVES
Anyways enough of my thoughts.
Ill be looking to see if this is a ABC correction or if we do shoot up to a ATH double top .
I believe we bit bottom for now and should head up from here.
I see that spy has a bearish shark and bearish crab pattern and both their points are around the 486 level
453.49 is my first target... if we break above that 486 would be my second target.
Ill repeat this again.
BE GREEDY WHEN OTHERS ARE FEARFUL
Got long options on spy
This is just a idea.
-Till next time
Almost every post in trading view is bearish calling for a market crash which makes me think we hit bottom for now.
Also alot of traders think they are a stock guru now drawing lines, random EW counts, boxes to make the chart look pretty,...and worst of all HOPING that whatever they drew out on the chart will play out ....
The market will severely punish those who are ignorant and think they can get rich quick ...
Just a warning - Alot of traders are going to get wiped out by paying hefty premiums to buy short positions or options and have the market turn against them.
You gotta understand, ALL the war NEWS is priced in.
AND also the market does not crash during a war .. its quite the opposite. IT THRIVES
Anyways enough of my thoughts.
Ill be looking to see if this is a ABC correction or if we do shoot up to a ATH double top .
I believe we bit bottom for now and should head up from here.
I see that spy has a bearish shark and bearish crab pattern and both their points are around the 486 level
453.49 is my first target... if we break above that 486 would be my second target.
Ill repeat this again.
BE GREEDY WHEN OTHERS ARE FEARFUL
Got long options on spy
This is just a idea.
-Till next time
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