SPX: Possible Double Top and Feb GapFill by July

20 Jun 2020

Chart says all. Formed bull flag past four sessions; looking back at last instance when lower TL was tested 14-18 May, the gap up from there resulted in a 5-day bull flag grinding down to 0.382 Fibo; Monday 22 Jun will be day 5 in this flag.

Channel gaps all filled Friday. Pattern looks just like late May again, bounce off lower TL and bull flag grind for a week.

Monday will either bounce after follow-thru selling, or just gap up and go to make double top IMO; every rally in 2 years has ended in a double top.

This isn't investing advice; trade at your own risk; GLTA!

22 Jun 2020

Nota

Watching this, no longs atm need clear direction

22 Jun 2020

Nota

IDK; 3155 on 19 Jun within 16 pips of 3171 of 5 Jun; maybe close enough we got another flag rejected today 6/22. No longs; entered bear spreads.

29 Jun 2020

Pesanan dibatalkan

Not goin long here agree it's bearish and the trend continues until it's over, Dow Theory. Channel down; short the rallies IMO!

30 Jun 2020

Nota

I bought a 10-contract bull spread on SPY just in case, fierce short-covering atm

1 Jul 2020

Nota

Closed the bull spread, I wonder whether this rally is Wave 1 of a motive wave to ATH

1 Jul 2020

Nota

MOMO gone wild LOL, all the action is in FAANGMs

1 Jul 2020

Nota

Look; DOW +12; SPX +2-; NQ Comp +102; QQQ +$3 near ATH; all FAANGs; divergence in broader market. RUT sells.

1 Jul 2020

Nota

Er, typo SPX +20