If you buy ARKK, you get TSLA as it is the top holding of the fund. And its on sale right now vs. TSLA which is up a lot the last months.  TSLA is a 65 RSI, ARKK is a 36 RSI, so an easy decision to me if holding for a while and not trading. I added some to ARKK yesterday at $112. Gl in your decision.

SPX, the gaps I mentioned previously may be in play here now:

On the downside now I'm watching the 50 day moving average closely and there is a gap at 4,395.64, in addition to another gap at 4,354.19. 

If things really got going in this wave, there is also a gap at 4,258.49, very close to the 4,250 major support. 

I would love this to play out as it would give me the opportunity to buy some low priced inventory for a rally back to new highs and beyond. Thanks for posting. 

Excellent point Steve made in the newsletter regarding the $SPX and last year's seasonality action possibly being similar to this year's and that if it is the same kind of thing that we would be in for a deeper correction eventually. 

An alternative view would be that we overshot the 50 day moving average, just like we did this year in March, have now recovered it, and will move higher from here. This would fly in the face of seasonality, though there can be outlier years in which that happens. In that scenario we would go higher and test the recent highs. 

I think that we need a rest but if there is anything that I've learned in markets it is that they like to fool the most people on a given day, week, etc. I had a great trade from the overshoot of the 100 day ma to up around 4,450s. This overshot my previous target of the gap fill at 4,432.99. In my other strategy, my retirement allocations are in great shape as I trim and trailed when we hit new highs in the SPX. This is a regular practice for me when we get more overbought on the multi month time frames. 

On the downside now I'm watching the 50 day moving average closely and there is a gap at 4,395.64, in addition to another gap at 4,354.19. These are the types of notes I keep for my trading journal. Really helpful for me for trade/investment planning as I know what I will do if prices hit particular areas. Glad we can share here. 

Thanks for your work Matt, I appreciate you and Steve

Just sold the leveraged etf that I bought when the market overshot the 100 day ma. The 4,450 area overshot my gap fill expectation of 4,432.99, so I'm very happy. The onus is on the bears now. 

The 4,432.99 gap I mentioned yesterday on SPX just filled   

Today is a gap and go day for now, but there is also a gap down at 4,354.19 now, yesterday's close. They are determined to not make this easy on bulls or bears.

The gap from the other day near the 50 day ma is at 4,432.99 for reference. The 50 day looks to be at 4,436 at the moment. This is information, not telling anyone how to trade. Have a plan and live with it. 

I think almost everyone is assuming a lower low to come at some point after this bounce. I would certainly welcome it as I have funds waiting to take advantage. Wouldn't it be funny if they ran this sucker higher to new highs and it never happened? Stranger things have happened and there are outlier seasonality years. 

..remember the 2018 where we went down 20% peak to trough and the bottom was Christmas eve? That wasn't usual to say the least. The wizards behind the curtain will let us know soon enough which way it plays out. 

He's back   

gap filled on SPX at 4,323.06 so I'm willing to get long here for 1/4 of what I'm willing to buy. There is another gap at 4,258s and support right around there as well, 4,250, so I would add to my long if we got there. 

Thanks Matt, just shared it with some investor/trading friends

4258.49 has a gap. 4,323.06 is the first gap near the 100 day ma. Supports often align with gaps

It was very helpful having the seasonality graph you posted at the beginning of September too. It gave plenty of time to further prepare ahead of the DVTs. I posted a kudos on that when you first published it. Nice work

It will be interesting to see what the SPY system does. I didn't take the Friday trade as I was suspect that we would be gapping lower at some point to get closer to the 100 day MA or 200 day. Interesting the 100 day MA is at 4,327, which aligns with the 4,326 gap. 

There is a gap at 4,323.06 

I'm in great shape as I sold the rally and I'm positioned well in long term areas as well. Happy to adjust if/when I'm given a reason to. I like a good sale, risk/reward. Thanks for your work Steve

Looks like "the onus is on the bulls"   

seems the Reddit folks are interested in BODY here now as well, lots of comments:

https://www.reddit.com/r/wallstreetbets/comments/ppew2v/body/?utm_medium=android_app&utm_source=share