SPY 449 .282 retrace and December low
Hello, this is what I am looking at. Just a caution to those who are ready to pounce on the dip.
ABCDE on D with two month cypher. .282 retrace is what I have seen in the past on ABCDE then .5 and .618 (456.5,460.38).
Bounced off 200 MA so maybe larger bounce but right now there is a lot of fear in the market so I would just hedge with UVXY calls or SL (maybe at 200 MA) or OTM SP put. 426 OCT low.
Just an ape - no formal financial or markets education. Just 3 years of losses.
ABCDE on D with two month cypher. .282 retrace is what I have seen in the past on ABCDE then .5 and .618 (456.5,460.38).
Bounced off 200 MA so maybe larger bounce but right now there is a lot of fear in the market so I would just hedge with UVXY calls or SL (maybe at 200 MA) or OTM SP put. 426 OCT low.
Just an ape - no formal financial or markets education. Just 3 years of losses.
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