SPDR S&P 500 ETF TRUSTUpdated SPY CRAWLING TO THE EDGE OF THE CLIFF
Nothing feels right to me.
BTC, NATGAS, Yields, DXY
I had the same weird feeling back in 2020.
So tomorrow we may continue this grind to 387 ish, then during FEDs announcement (March 22) SPY may do a fake out to the upside, reach 399 and fall hard on Thursday.
Looking at the VIX, its still in bull flag formation and it behaves correctly, no drama, just slow consolidation.
If it can hold 23 (bullish pennant support) I may gamble a bit and enter UVXY tomorrow.
Obviously things can go both ways, but one thing is certain, we are going to rally hard.
Question remain which way?
I give it 70% to the downside.
Good luck.
BTC, NATGAS, Yields, DXY
I had the same weird feeling back in 2020.
So tomorrow we may continue this grind to 387 ish, then during FEDs announcement (March 22) SPY may do a fake out to the upside, reach 399 and fall hard on Thursday.
Looking at the VIX, its still in bull flag formation and it behaves correctly, no drama, just slow consolidation.
If it can hold 23 (bullish pennant support) I may gamble a bit and enter UVXY tomorrow.
Obviously things can go both ways, but one thing is certain, we are going to rally hard.
Question remain which way?
I give it 70% to the downside.
Good luck.
Note
Look at the bear volume in last few sessionsNote
VIX BULL FLAG
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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.