Only four Oct trading days left , no crash this month, if we clear 214.50, then 216 and 217 are tagged next.
SPY
- Thread starter Phill Twist
- Start date
Back in the buy zone, ping pong market , buy 212 sell 217, we are seeing more of the bottom of the range as the election is a headwind.
By controlling interest rates&the money supply the Fed is able to create booms for Member Banks profits & busts to buy cheap assets
Let's see if 210 becomes the new 212 buy zone, oversold here and primed for a snap back rally to updated sell zone of 214.50.
Huge down moves never come with crowded bear trades of 65 percent bearish. Shorts will be get slaughtered when they rush to cover.
Look for short covering and volatility reversion Friday, shorts will cover some ahead of a week end and headline risk, 210 resistance.
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Remember sell the news. Markets dip hard after election day. See the records (in case of obama too). So, either ways it will be down.
Hillary would do the right thing; Trump is going to the most profitable thing. Go biotech! Goodbye solar!
Purely from the technical view, the only overhead gap was the one following Oct 10th, but that was filled today. Be careful here.