SPY Pretty violent last couple of days in July, but I honestly think it might be over for now. Price action couldn't break past .38 fibo retracement of the latest rally from 592. If I'm right, we could see a continuation of the uptrend in the coming weeks.
SPY looks like another leg up is coming before the selling really begins. i see the 1hr rsi is too oversold for this to go down much further and with the gap created today, I highly suspect that gets filled. If the final top is in, I expect there will be no gaps near the top that will need to be filled. I closed all of my puts 2 hours in to todays session and will be entering calls on Monday.
SPY just checked dark pools and I see $ 1 billion in premium parked at the $631.99 price level. This recent pull back was nothing compared to the 3 month bull run we have witnessed these past few months. I expect insiders know some news that’s gonna come out during the weekend and this was a correction before continuing upwards. Enjoy your weekend guys and get some rest
SPY Very excited for this correction. Realistically from the current price, we should be expecting a 4-5% drop further since we already dropped 3ish% from the highs. This correction should only be 7-8% total. Any more is not very likely.
SPY my question would be, what ever news have come out so far concerning these rise and falls in the market. Are they in sync with the technicals and fundamental or is the market being manipulated pretty bad to the point where looking at charts and news, only help you so much?
SPY i just realized a close below 618 would confirm last month’s gains were going to be wiped out in one day. my guess it they saved that from happening to continue selling off on sunday. have a blessed weekend everyone.
SPY A 6-8% pullback is healthy I wouldn’t consider any of this bear market activity just more profit taking and retracement from the crazy Bull run the past 3-4 months