SPY Swing

 




Revisiting this from old post.

Sell came quick and hard. Gapped up to new ATH over weekend. Sell wave. I misse
d it all, had to wait on pb and finally got my in later in the day. 

Everything correlated. FANG names big failed breaks. Bonds are breaking out higher, VIX higher breaking trend line. 

We dropped lower enough to cover a lot of levels. We broke our rising wedge TL and came close to golden level 364. Big vol profile VA bottom at 366 will be the key now later in day to hold above. 

They way things look, we look ready for more downside. I am flat all long names until this settles down.

But until we do, downside looks likely so I want in.

I added as we based out above 367 with internals looking flushy again. FANG names the same, weak. Maybe strong sell into close and we get our crazy gaps lower again. 

Added on TL breakdown as QQQs flushed quick and hard, adding more if we go here. And we did, big as I want for now. Have to respect risk and if im wrong here will have to reset this trade for maybe tomorrow if we close stronger. 

I am expecting big market changes from here on. We have bonds breaking out and biggest stock company names failing tons of breakouts. We are overdue for big reset. 

And spiked up on me, I may completely miss this move lower if it happens and i cant get my timing right. 


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