Replies to post #52441 on SPDR S&P 500 (SPY)

[2bit-nothing]

Footsie,

U always say shorted SPX such & such, what instrument do u used? options, futures??

da 2bit

[learningboutinv]

Foot, NAUD crossed barely back up above the 50ma. 60min on $NDX is in an uptrend, daily is still pointing down. The QLD static image that I put up at around 3:30 PM actually closed today at 84.14.

Planning to go long at the open on Monday and putting a stop just below the lower downtrend line of the 60min chart ~82.50. I think we can get up to ~87ish on QLD in the next 2-3 days and then more down as we hit the Downtrend line on the daily chart and close those 2 gaps below.

In Summary, 60min looks to be in an uptrend for 2-3 more days. But after that, tough resistance at $NDX 2000 on the daily and still the daily is in a downtrend. So I am looking to short at $NDX ~2000 with a stop just above.