Technically speaking, in the recent term SPY has just now retested the mid March breakout.
With high Bearish sentiment, even if we don't see ATHs , I think we do have a "bear market rally" in the near term
Of course, a breakdown here invalidates the idea, but certainly wouldn't be going crazy big adding to shorts down in this hole.
I like the R/R of this idea, and will be watching to see what price does this week with FOMC, very pivotal, and still some big ERs ahead.
Note - I'm still hedged short on some weak names but I am looking to add some small longs, especially with VIX above 30 can expect some rallies and good R/R IMO
With high Bearish sentiment, even if we don't see ATHs , I think we do have a "bear market rally" in the near term
Of course, a breakdown here invalidates the idea, but certainly wouldn't be going crazy big adding to shorts down in this hole.
I like the R/R of this idea, and will be watching to see what price does this week with FOMC, very pivotal, and still some big ERs ahead.
Note - I'm still hedged short on some weak names but I am looking to add some small longs, especially with VIX above 30 can expect some rallies and good R/R IMO
Nota
Ended up a nice hammer candle respecting the trendline perfectly : ) Let's see if we can get some follow through this week! Went long 5/13 411 calls, up 30% so far
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.
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.