This is my general approach for today - everything is subject to the opening range and action. Everything is aggressively bullish but falling asleep is not advised :)
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This is a continuation of my idea from Monday, but I wanted to post as a separate chart for clarity. There's enough fogginess as it is. :)
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Opinion: if we do get downside, it's likely to be "test & reject" due to the overall bullish momentum. Don't get trapped imo.
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I think there's a good chance of closing the gap on SPY today. Opinion only - based on the opening action.
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Classical short opportunity. My stop is just above the blue resistance line (SPX500).
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The earlier we can spot a new channel the better. By the time everyone noticed, the borders are distorted.
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My early morning short worked. The other ones got stopped out. Since we crossed the red line and successfully retested, I don't see a technical reason for short positions anymore until we completely reverse on the daily chart.
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There's something quite weird in the SPY options expiring this Friday. I'm wondering if I'm the only one seeing it.
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I'm getting busy with some people who invited me to work with them. I'll try to answer all PM's as much as I have time.
