SPX- Election Surprise
If you follow us you know that we think SPX and markets in general are heading towards a generational top
And based the last months price action we think we know almost exactly when that top will complete:
NOVEMBER 2024
Prediction: It does not matter who wins the election..the market will begin to crash
MARK OUR WORDS
And based the last months price action we think we know almost exactly when that top will complete:
NOVEMBER 2024
Prediction: It does not matter who wins the election..the market will begin to crash
MARK OUR WORDS
Komen
Near term support/ resistance
Komen
Lets see which way this breaks
Komen
As expected so far
Komen
Price still hanging out between support and resistance
Komen
NOT FINANCIAL ADVICE
Quick trade we took anticipating maybe some short term weakness in SPX
SPXU 40/shares @ 24.65
Stop Loss @ 24.50
If we get stopped out and break the low of 24.43 on SPXU we plan to immediately look for an entry on SPXL
Komen
And yes we will later show the actual trade in the account so you can see it Komen
Ok got stopped out of the SPXU trade but like we said we immediately looked for opportunity in SPXL
We started a position in SPXL of 6 shares at 162.15 with a 3% stop loss
Lets see how this goes!
Komen
Position starting to get some legs
Komen
Position still in place
Levels are holding and we are looking higher near term with the expectation that over the next few months we should see price finally top out
Komen
After price moved higher this morning we moved the trade to a little above break even and as we all see we eventually moved lower which stopped us out
We got back in at 162.52 because we still see price as near term bullish
We are using tight stops (1% - 3%) because price is still a bit indecisive
Take profit is 10% (but price structure will ultimately dictate)
Komen
Price still overall hanging out between support and resistance
Komen
Got stopped out of the SPXL trade...only had a 1% stop loss so didnt lose much of anything..that pop of bearish that we were looking for intially when we bought SPXU materialized a little differently than we thought..oh well
On to the next trade which may see us get back in SPXL
Komen
Price still ping-ponging
Patience......
Komen
As we have been stating SPX is in the late stages of forming a major top
November thru end of the year should see this start to roll over
Lets see
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.