Posted by DigiNomad on 18th of Aug 2022 at 02:50 pm
I'm short levels via SPX and SPY options. Not going to take them
off, but I'm not adding at the moment and I'm prepared to wake up
tomorrow in defend mode (roll up and/or out in time). If SPY / SPX
breaks up, outside of the triangle and then maintains it for any
appreciable amount of time, I might just retire
FWIW, any appreciable "breakout" by SPY and this point would
have it testing the 61.8% retrace. I have expected that for weeks
now and I have based my short levels on it - hard to imagine SPY
not only breaks out but blows right through the 61.8%....and holds.
It might poke through...but not hold, IMO.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
I'm short levels via SPX
SPY - I think the ascending triangle played out for ...
Posted by DigiNomad on 18th of Aug 2022 at 02:50 pm
I'm short levels via SPX and SPY options. Not going to take them off, but I'm not adding at the moment and I'm prepared to wake up tomorrow in defend mode (roll up and/or out in time). If SPY / SPX breaks up, outside of the triangle and then maintains it for any appreciable amount of time, I might just retire
FWIW, any appreciable "breakout" by SPY and this point would have it testing the 61.8% retrace. I have expected that for weeks now and I have based my short levels on it - hard to imagine SPY not only breaks out but blows right through the 61.8%....and holds. It might poke through...but not hold, IMO.