Cautious going long
Strictly based on DATA And TA
Spy will have a hard time passing 405. Max on this leg spy can go to is 413-414. See the charts posted. On one indicator it has never surpassed 98.02. Current high is sitting at 90 which spy was at 402.93. If it even goes towards 98, spy will be at 410-411. Would stop out at 100 which would put spy roughly around 413-414. Anytime my indicator has hit 90 there’s at least a 20 point drop. December we should see 385 or even lower then a “Santa rally”. (If we even get one).
Recent high on my indicator is 92 which was on 8/16 - 8/18 then we saw the big drop. If the indicator currently was at 80 or 75 we would be able to potentially see 415-420. Presuming spy goes to 92 that would put spy right around 404-405.
Be cautious going long.
Good luck trading this week. Personally I’m building up long short positions until my indicator tells me other wise. Always remember to not be biased and secure profits. Play the trend but know that we are at the top or close to the top of this leg run.
Spy will have a hard time passing 405. Max on this leg spy can go to is 413-414. See the charts posted. On one indicator it has never surpassed 98.02. Current high is sitting at 90 which spy was at 402.93. If it even goes towards 98, spy will be at 410-411. Would stop out at 100 which would put spy roughly around 413-414. Anytime my indicator has hit 90 there’s at least a 20 point drop. December we should see 385 or even lower then a “Santa rally”. (If we even get one).
Recent high on my indicator is 92 which was on 8/16 - 8/18 then we saw the big drop. If the indicator currently was at 80 or 75 we would be able to potentially see 415-420. Presuming spy goes to 92 that would put spy right around 404-405.
Be cautious going long.
Good luck trading this week. Personally I’m building up long short positions until my indicator tells me other wise. Always remember to not be biased and secure profits. Play the trend but know that we are at the top or close to the top of this leg run.
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