***Wrong or right the point of this post is make sure you guys are on your game and be ready to go into PUTS or cash if something happens don't stay in trades or stocks thinking it will rebound if its a sharp drop on spy and breaks whatsoever down DO NOT hold your losses.*** I will updatel later, but I think we see a ripple after effect of COVID cause issues here. I also am worried about other countries clearly re igniting lockdown with Delta strand. I am not sure what would happen in US. I can see Biden wanting to and 25 or so states basically saying enough is enough and sort of see a mass vaccination, becaause I think Americans would rather be 100% vaccinated and go to work and keep the money moving rather than stay inside.
Guys I think it is beyond obivous SPY and market in general recovered too fast which is beyond obvious on on the repeat 3-4 rising wedges. Not a bad thing tons of volaility etc. But the definition of the rising wedge is what we are seeing. Think about it guys. HOW MANY STOCKS ARE WAY ABOVE PRICE TARGETS/ FORECASTS FOR FINANCIALS WHILE HAVING NONE OR "HOPEFULLY HANG ON". There are so many stocks that are double or 40% higher than pre pandemic. Some for good reason others are clearly at peaks. However, I think we have reached the fractal time peak on this will now happen on the huge timeframes. What this means is a drastic price drop. I hate to say it but sometime in the near future I really think we will see 390s probably less.
With that being said I am absolutely a bull at heart rarely do you see me post bearish or PUTs. usually 80/20 or better bullish posts. I really do think there are alot of factors to be bullish about. Clearly inflation and core inflation are bigger issues than are being led on. Core inflation for sure is the one they seem to passover with ease.
I think the question is does SPY trading affect where it should be? For example, TSLA (bearish news over weeks) Airlines extremely bearish news this weekend / past week. If too many big name companies take his it will send SPY down then it will be traded as such seeing previous falls. So what I am getting at is Ford is clearly at a peak as well, alot of big companies have had amazing runs and we have made tons of money riding Amazon, TSLA recovery, all these stocks. But we cant just go straight up forever.
THE SOONER WE CORRECT on the weekly / daily the better. I think personally sometime in the next month or two maybe three we see 300s. I think the EXACT same thing will happen massive V shape recovery and then we will move up much faster to a new all time high than last time. It will be a brief moment (a week to month) of massive bearish cycle then bullish for the next 2 years IMO.
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Contradicitng bullish sentiment is if we can somehow gap up 2-3 days this week and really get us out of weeds which would essentially reset the elliot waves, get us over the bad previous resistance etc we could go bull market now, but we have been in an epic bull market.
Wrong or right the point of this post is make sure you guys are on your game and be ready to go into PUTS or cash if something happens don't stay in trades or stocks thinking it will rebound if its a sharp drop on spy and breaks whatsoever down DO NOT hold your losses.
Guys I think it is beyond obivous SPY and market in general recovered too fast which is beyond obvious on on the repeat 3-4 rising wedges. Not a bad thing tons of volaility etc. But the definition of the rising wedge is what we are seeing. Think about it guys. HOW MANY STOCKS ARE WAY ABOVE PRICE TARGETS/ FORECASTS FOR FINANCIALS WHILE HAVING NONE OR "HOPEFULLY HANG ON". There are so many stocks that are double or 40% higher than pre pandemic. Some for good reason others are clearly at peaks. However, I think we have reached the fractal time peak on this will now happen on the huge timeframes. What this means is a drastic price drop. I hate to say it but sometime in the near future I really think we will see 390s probably less.
With that being said I am absolutely a bull at heart rarely do you see me post bearish or PUTs. usually 80/20 or better bullish posts. I really do think there are alot of factors to be bullish about. Clearly inflation and core inflation are bigger issues than are being led on. Core inflation for sure is the one they seem to passover with ease.
I think the question is does SPY trading affect where it should be? For example, TSLA (bearish news over weeks) Airlines extremely bearish news this weekend / past week. If too many big name companies take his it will send SPY down then it will be traded as such seeing previous falls. So what I am getting at is Ford is clearly at a peak as well, alot of big companies have had amazing runs and we have made tons of money riding Amazon, TSLA recovery, all these stocks. But we cant just go straight up forever.
THE SOONER WE CORRECT on the weekly / daily the better. I think personally sometime in the next month or two maybe three we see 300s. I think the EXACT same thing will happen massive V shape recovery and then we will move up much faster to a new all time high than last time. It will be a brief moment (a week to month) of massive bearish cycle then bullish for the next 2 years IMO.
----
Contradicitng bullish sentiment is if we can somehow gap up 2-3 days this week and really get us out of weeds which would essentially reset the elliot waves, get us over the bad previous resistance etc we could go bull market now, but we have been in an epic bull market.
Wrong or right the point of this post is make sure you guys are on your game and be ready to go into PUTS or cash if something happens don't stay in trades or stocks thinking it will rebound if its a sharp drop on spy and breaks whatsoever down DO NOT hold your losses.
Note
For the people that keep saying "you'd be crazy to short SPY at an all time high" I seriously wonder where you get this from. LITERALLY everytime in history SPY hits all time highs on swings it get sold off. You'd be broke if you bought at the highs. Which makes sense.... ALL TIME HIGHS are low demand and psychological levels. Do they eventually break... sure obviously.. but to say "you'd be crazy" well the crazy people would be rich while you were broke betting on all time highs calls vs puts Note
Once again please read the post I did NOT say this is happening monday it could take time to shake it out entirely, maybe it happens slowly nobdody knows. But its BEYOND obvious on the weekly and monthy chart its a bearish pattern + economy + covid delta + market being at peaks across the board
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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.