I mentioned a technical bounce. I think we are seeing it.
Here is the link to the previous post.
SpyderCall :I know everybody is bearish. But we might see a technical bounce soon.
https://www.moomoo.com/community/feed/111321152552965?global_content=%7B%22invite%22%3A%2270107943%22%2C%22promote_content%22%3A%22mm%3Afeed%3A111321152552965%22%7D&data_ticket=503374bcb16985dbcf5d859821fc6dab&futusource=nnq_personal_host
https://www.moomoo.com/community/feed/111321152552965?global_content=%7B%22invite%22%3A%2270107943%22%2C%22promote_content%22%3A%22mm%3Afeed%3A111321152552965%22%7D&data_ticket=503374bcb16985dbcf5d859821fc6dab&futusource=nnq_personal_host
I don't know how long this bounce will last. I am definitely taking some profit off off the table before the interest rate decision.
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102235596 : You reckon it’ll reverse Tmr?
SpyderCallOP 102235596: To be honest, I am not sure. I am taking some profit, but I am not entering into any new short positions just yet.
The sell-off was overdue for a bounce. Market sentiment has been super bearish lately. So I just don't know how high this rebound will go.
SpyderCallOP 102235596: This is the current channel I am watching. SPY is at the mid level of this channel so it could go either way, but it looks like there is at least a little more upside in the works.