SPY

Initial decline of 200DMA 431, down with gaps from 410 down, possibility of reclaim to 375 and maybe gap fills upward, I am skeptical but we will see. Thursdays move was too extreme for me to get a proper measurement off the engulfing candle from my typical pitchfork plots on a longer time frame.

First spot clear would be breaking 370-373-375 and upwards, however it could be wrong but we will see.

Note

Note to be wary of options expiring this week, and it could just be another squeeze on short positions. As usual, its up in the air on long trend, since I only ever do intraday.

Note

However going to 330 is not impossible, into the end of the year, we will see how the channel plots out.

Trade closed: stop reached

Long invalidated

Note

200DMA has dropped to 411

Note

200 406.08 descending still

Trade closed: target reached

Trade is over-all done for me, a lot of flip flopping in my first year of ETFS, but chart came along. So -idea- closed-

johnston151

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