ES1! Past two Fridays,sp500 went up to kill retail puts on expiration. It is so easy for inexperienced traders to assume same thing could happen tomorrow. Based on put call ratios alone, it seems like sp 500 including NVDA will get monkey hammered this coming Friday. Of course, i could be wrong… or not.
ES1! One must be stupid enough not to see flash sale drop coming up… plz accept my apologies: no means to offend newbie FOMO bulls. When airlines, wall mart, Costco, Expedia drop… add massive layoffs, costumer good price hikes… I don’t want market going down. no no no… unfortunately, nvda i see kissing 90, tesla 220 ish, sp500 528. Invest… do not trade. peace and good luck retail friends. At best cash out and take your family for a month vacation. Market is brutal… its not for novice traders to take a sling blind regretful shot.
ES1! Chart and SMI (momentum) indicator are flipped. Possible inverse H&S.
The news and retail sentiment reached maximum negativity this week, with headlines already suggesting a recession is on the way and every joe schmo investor thinking the sky is falling. In a bear market, this is usually the point where we see a reversal to the upside.
I’m in 3/14 570c on SPY. Let’s see where this ends up after CPI. I think the reversal is already underway, when most traders least expect it. tradingview.com/x/nJBISEmk
Calling it. Reversal is here this week and possibly next week. VIX term structure is above 1.0 over 3M VIX. ES decline by 9.84% over 19 days. Completely running on extreme fears, ALMOST everything is priced in (caveat: CPI number coming in hot on Wednesday could add more volatility).
BUT The odds are in favor of short-term face-ripping rally by at least 4-5% is fricking long overdue. Stocks have gotten so cheap (ie. GOOG, META, quality names) that sooner than later will see a shift in buying sentiment.
Sure maybe you can make an argument for shorting the rips, but past history has shown that after a steep sell off like this, being short at this point is extremely bad dislocation.
ES1! My humble apologies to retail friends that market has been tanking. Please save your marriage, relationship and career from collapse. Only consider buying when 10 day ema crosses 21 on daily chart. Long story short… when inversion happens and dollar dips, sp 500 sinks. Ex., December 21 2021 and years before. Instead of throwing darts, do backtesting… see my suggestions above. Good luck trading. Peace.