SPY one last try 370, then testing new lows (<330 Q2 2023)
Updated
I was caught off guard both by Wednesday's rally (though I ought not have been, having called for it since Sunday) and by the aggressive down move to a new low on year we saw today.
Daily RSI is still oversold and indicates we're due for a bounce, though we're mid-range on Weeklies. I expect we'll retest 370 one last time in the next few days (tomorrow if PCE is unexpectedly positive) followed by dumpster fire to <358.
Could be wrong. I lost 1/5th of account value on paper Wednesday, but holding until today brought me back the losses. Good luck, via con dios.
Daily RSI is still oversold and indicates we're due for a bounce, though we're mid-range on Weeklies. I expect we'll retest 370 one last time in the next few days (tomorrow if PCE is unexpectedly positive) followed by dumpster fire to <358.
Could be wrong. I lost 1/5th of account value on paper Wednesday, but holding until today brought me back the losses. Good luck, via con dios.
Comment
that should be "vaya" instead of "via" but way of the gods works about as well as travel with them, no?Disclaimer
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