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I think you need to start drawing downward sloping lines instead of upward. Adding new lines from the covid low is starting to look like a bad fit. The downward trendline that we "clonked" today, Friday, and many days before that looks much better and goes back to 8.25
The "everything" bubble
I hope lines are worth at least diddly
"If they aren't bullish they're bearish"
Insightful analysis
I always wonder, are lines better on SPY or SPX? Personally, I always though that the downward effect of dividends/ETF fees skewed analysis on SPY and therefore SPX would be more accurate. However lines still hold up on SPY.
Penny for your thoughts
The SnP chart '64 to date
I really appreciate the inclusion of the assassination of Kennedy.
Do one with a nice clonk line on SPY 420.69 lol
How so? You could easily sell some call spreads above resistance. Thats actionable information.
Do you see again that the price pulls away from 420.69 on the penny? This is the third time. How can you say lines are useless.
420
69
L.o.L.
You think its a coincidence SPY pulls back from 420.69 twice?
420
69?
Lol
Don't be too hard on the bears. Every market cycle has a "im a genius, we're all going to be rich" phase of overconfidence. If you flip the market cycle upside down the bears are probably in the anger or depression stage which as we all know is the best time to buy (or short in this case)
Being right about yesterday doesn't mean squat about tomorrow and vice versa.. Past performance doesn't guarantee future results etc etc.
Way to hang in there
EZ money!
I got suckered on the same setup at 320 the next month. Still in the trade.
Buying a home requires significant capital unless using expensive mortgage insurance. Houses are currently comparatively expensive compared against history, why would this generation be eager to pour all of their equity into a single asset that produces no income?
Does your analysis yield the sane conclusion on a longer time frame 4+ mo?
In what way did you determine the market is 'too short'
After two days sideways, it's time for a straddle
I went and bought some new pom poms
You have forgotten about the ex divy thingy. If it weren't for that we would actually be right around 280 on SPY. Take a look at the S&P index instead. The low print was 2800.2! Closed at 2805
3 day trendline broke
AM jam job cuz why not?
Mini jam job
Nailed this one bud. Nice call
I had included a picture, I didn't type the link correctly at first. I thinks 280 will be relevant for a while yet!
I have always liked your charts
Head and shoulders is a topping/reversal pattern not a continuation pattern.
Put spreads are pricey going into 3/15. Options seem to be pricing in higher probability of downage from here compared to upage
They let er run 6, maybe 7 cents above before the dollar spike down rejection? Must be Brexit vote. . .
OUTSTANDING!
It's actually crazy to think that an entire index pivoted to the penny on an ETFs even number resistance.
280.. 280..
Seem less enthusiastic about being neutral than usual in that post!
Nice trade.
It's a fun day today
Might have first 1% down day in a long time who knows
You can try using some spreads in that case. Minimize your break even
Are you saying you just bought some more 2/25 279 puts at .06?