MA20 Rejection: More Volatility Soon?

Price broke under MA 20, rose back to retest and failed test, rejected. A much larger drop with intense volatility is likely. Take a short if you feel bold, or just take your chips off the table. This rejection pattern is fairly reliable for a big tumble, see John Murphy text , p 72, Fig 4-10a.

Target price: ~6600 at MA200 in about 3 weeks. GLTA

docs.preterhuman.net/John_J._Murphy_-_Technical_Analysis_of_the_Financial_Markets_(1999)

トレード稼働中

Another silly green candle, do not be fooled. Testing MA 20 again, SPX 6900 cap.
IF it breaks through and holds above 6900 this idea will be invalidated. In SPXS.

ノート

PS: Sorry about your daily puts, better trade weeklies! :-)

ノート

Getting real close to either stop out or U-turn and print. NVDA ER will be the hinge.

ノート

Watch for sell the news after buy the rumor today...

ノート

Holding SPXS, red futes again, look for rejection

ノート

closed spxs in open look for retracement to re-enter... big greeen!

ノート

index making triangle, watch n wait... paytience

ノート

Opened small short in 200 spxs in for 35.20 with index at -30, 6876
Hedged short daily 35.5c for .17c credit. Let's see...

ノート

Closed the open shorts, they green, take risk off. See what we get Monday, maybe the bulls come charging back, eh?

ノート

out 6860

ノート

If it bulls Monday this idea is invalid imo. Feels like a Fourth EW past 3 weeks... chop chop chop no gains or real losses.

ノート

Monday gonna be red eh? LOL might get down limit halts after this middle east madness, shoulda full ported.
Who knew?!

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It ain't down 1k, they just btfd. Stepping off, GLTA

ノート

Sigh, utterly irrational, oil and gold spiked and we are in a shooting match with ragheads again, and BAM UP WE GOOOO... I suppose this could be setup for another leg down, so deceptive and unpredictable, all bets off.

SPX tapped 6900 again intraday and QQQ touched $610, +$12 from opening low price. But how would you even guess that the opening price would be LOTD?! I expected price to lift a bit and then slam down maybe -500, -600 or more.
Took a few puts around 10 am looking for this PA and was lucky to scalp my tendies back out before the megapump.
Did take a few calls and after they gave 50% closed, to watch em give 200% LOL. Sigh...

This market is just fkg nuts, Good Luck friends!

ノート

Watch in amazement as greedy bulls crush shorts and put bears out to pasture. Astonishing risk-on near ATH, the higher it gets the more they want it. Utterly irrational. IMO this mfr will crash sometime this year, good luck trying to time it.

DaddySawbucks

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DaddySawbucks