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They're getting so good at setting bear traps chart wise, I'm starting to admire it honestly. Yesterday morning I bought calls shortly after the open thinking the chart looked bullish, then sold for a loss when SPY starting dropping at 10:30am EST. Intraday TA suggested more downside was imminent, then they rip it back to HOD in like 2 minutes. I buy puts at 205 thinking it will be resistance, they blow right past it rally all day then gap up and run it to 208 today. Unreal. They are definitely trying deliberately take peoples money through deception.
This run is almost making me forget how bad off the economy is.
Does anyone have any TA suggesting what will happen tomorrow?
So you're expecting the correction to happen this fall?
No pullbacks this entire run. I want another August 24th to happen. This endless bot grind upwards is pissing me off.
wow awesome.
Doesn't seem like it's going anywhere in a hurry, It's comfortable consolidating in the 204-206 area. Could be a theta burn week.
The 4ema is now crossing 10ema bearish on the daily. A signal to go into puts.
I don't have any TA to give right now. The chart is saying so many different things I don't know what to think at the moment.
They're just doing this because everyone is short at this point. So they'll just write more puts then take it higher.
Loaded in April 22nd $206.50 puts, ready for the drop tomorrow.
The first bearish engulfing daily candle of this rally could be tomorrow.
Sold at $1.40 from $1.14
Reality wins.
Bought April 8th $207.00P for $1.14.
Looks like a rush to the exits setting up. People aren't buying here, they're selling here. Today we will see the extent of the shadow bankers powers. Can they absorb all the shares being dumped by people getting out here and take it higher, or will reality win. We will find out.
On every spike today all I see is massive amounts of shares being dump yet it keeps going up, how? pure manipulation. Getting tiring to watch this.
Heavy selling here, should see a new LOD.
This has become a total joke.
Computers are in control.
Interesting. Makes sense of this rally.
Commence the sell off.
I saw some data yesterday that showed retail short interest is at an extreme high. Because of that, MM's might not want this to drop yet. Heavy selling taking place right now but looks as if they trying to force it up.
Took some puts overnight. Daily chart looks toppy here. Expecting a down day tomorrow.
I'm really not sure what will happen next, taking it day by day and keeping an open mind. ATH is possible as well as another downturn. I'm gonna let my June puts expire worthless as a lesson to myself on not chasing moves and being vigilant with my entries. That trade was too large, I swung for the fences and struck out. I should have cut my losses a few days into the trade, but couldn't bring myself to believe SPY could do what it has done. I sat in disbelief as SPY gapped up everyday. I let emotions control my decisions. Being emotionless and getting out of bad trades fast is critically important to surviving this market. I'm still working on becoming a better trader.
I should have, but let fundamental analysis cloud my judgement. The 4ema and the 10ema haven't crossed bearish this whole run, when it does it should be signal to get puts, it works both ways.
I do use TA just not the same things as you. Theres plenty of indicators to use but I find half of them completely useless, all a matter of preference though. I use the 4ema crossing the 10ema as a signal to go long.
Still holding on to your charting huh? the chart tells us what already happened, not what is going to happen. You could use the chart to make an educated guess as to what will happen in the future, but in no way does the 9 ema control SPY's fate, nor does any chart pattern. Not to be rude, but the TA you have been posting hasn't been fruitful as of late.
We were, then the G20 meeting in February changed the game. Read this: secret-meeting-at-g20-to-take-down-dollar. Now we might be back to a bull market. Time will tell.
Unsure of what happens next. We didn't gap up like I expected. Much selling at $203. Consolidating here. The Yellen speech could be a sell the news event. Watching carefully.
Heavy selling at $203, doesn't bode well for bulls.
The concerted effort by G20 economic powers to devalue the dollar and lift markets leads me to believe we will go to all time high by June 1st. 206 end of week target. Don't resist.
Feels good to see SPY go down.
Someone is slamming this with large sell blocks but it will not go down. The message is clear. SPY will not go down so don't try. We are the SPY plunge protection team and you will not defeat us.
I'm sorry, I'm feeling hostile because of getting burned on puts multiple times all throughout this rally. I'm taking it out on random people. Carry on.
"VXX is really starting to exhibit some of the familiar bottom type patterns, at least intraday now."
You say that everyday.
This is comical, same intraday chart everyday for a month.
The only indicator right now is the FED. Nothing else matters. TA has been rendered unequivocally obsolete at this moment.
I don't feel like a trader right now, I feel like I'm part of a criminal organization hanging out in a seedy underground gambling hall playing poker with stolen money.