SPY first off I gotta give it to AP, his analysis was spot on, after doing my own I can agree with him that this will go higher currently I’m seeing extension to 0.382 fib level that puts us right around the 565 area. That would be my guess as to the end of this wave until we can go short again. If it blows through with volume then the trend continues but with FOMC around the corner I feel like it may be the catalyst to bring this back down if there aren’t rate cuts in the horizon. My theory also takes into consideration that we have major gaps below us, it’s a huge factor that makes me believe these need to be filled before going back higher towards ATHs. As always trade the charts and not the news, use the news as confirmation for your thesis. Let me know what you guys think.SPDR S&P 500 ETF TRUST forum
SPY first off I gotta give it to AP, his analysis was spot on, after doing my own I can agree with him that this will go higher currently I’m seeing extension to 0.382 fib level that puts us right around the 565 area. That would be my guess as to the end of this wave until we can go short again. If it blows through with volume then the trend continues but with FOMC around the corner I feel like it may be the catalyst to bring this back down if there aren’t rate cuts in the horizon. My theory also takes into consideration that we have major gaps below us, it’s a huge factor that makes me believe these need to be filled before going back higher towards ATHs. As always trade the charts and not the news, use the news as confirmation for your thesis. Let me know what you guys think.
SPY We’ll be back to 510 by Friday !!
SPY 560 open Sunday night
SPY this things running @ the bottom of the channel barely holding on it seems.
SPY we are shorting the top of next week! Feel free fears here!
SPY The best part of the week is here. The weekend. Its gonna go so fast like the blink of an eye.
SPY also they make u swing calls or puts cause in New York sesh it chops 🤣 risky super risky cause theta and trump 😂SPY there’s the squeeze they waited til end of day last minute so I have a quick decision to sell or buy then market closes 🤣 lmao
SPY Is anyone selling more puts? I bought literally all of them
SPY People who are holding your puts, stop self blaming. You are not the only one. The current SPY put call ratio is 1.58. Imagine how many people the Wall Street has tricked. I do believe in the downtrend in general. The bear market has just started. Check the monthly MACD. We have been in a downtrend for three months and it will continue, like 2022. Hold on to your puts. I believe the market will peak next week and reverse to the downtrend.