GODAWFUL drawdown. WOW! GODAWFUL. BUt December... I think she'll start to dig out then. That lines up with markets being sh1tcoin through NOvember then taking off again, so mayebe smallcaps will get in o on the everything up blowoff top move.
1. Gap between 0.016 and 0.019 2. Gap fill & potential Head-Fake, Head-fake before run seem common of late with triangle setups 3. If break above 0.019 head-fake confirmed and descending triangle still in play, other supporting indicators will be increased volume and MACD Cross 4. If rejects 0.019, descending triangle fails and will continue down or...
Be patient and add some puts within the triangle.
I'm not implying the spx rally is over or a top is in. But looking at the channel the spx has been trading in since 2011 lows, there is not much room to the upside at the moment and believe by observation there is more room for the spx to pullback. My plan is to sell the hwb from highs to lows as long as it acts as resistance with a tight stop. Last week was the...