I don't have a solid prediction on direction going into tomorrow on SPY.
Im trying to stay neutral due to the daily candle being a absolute banger of a gravestone Doji....The line in the sand, the weird moment in tug of war when both sides are at a stand still and the wining team makes there move.
I am feeling like the bears will win this overall, however im also seeing quite a bit of buy pressure on the smaller timeframes. So I could see spy pushing up to the low 399 area and then making a continued move up , or a fast rejection of that level for a blow out back down to low 385 range.
This is a FED black out week , and major earnings week so I do predict this week will be pretty choppy with a lot of give and take on gains / losses.
Again im staying neutral and might not even trade tomorrow.
The main thing i will be looking at is the 9ema , and the 5sma getting pulled to the point of control as shown via volume.
Im trying to stay neutral due to the daily candle being a absolute banger of a gravestone Doji....The line in the sand, the weird moment in tug of war when both sides are at a stand still and the wining team makes there move.
I am feeling like the bears will win this overall, however im also seeing quite a bit of buy pressure on the smaller timeframes. So I could see spy pushing up to the low 399 area and then making a continued move up , or a fast rejection of that level for a blow out back down to low 385 range.
This is a FED black out week , and major earnings week so I do predict this week will be pretty choppy with a lot of give and take on gains / losses.
Again im staying neutral and might not even trade tomorrow.
The main thing i will be looking at is the 9ema , and the 5sma getting pulled to the point of control as shown via volume.
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Played 397 call options at market open off the pullback. Sold for 55% profit. Im not convinced the pump is over but im sticking with my gut and selling on the pump and now looking for a short opp on a larger timeframe.