LiferThe other Jamie
Lifer
Tracks posted an update 2 years ago
As Powell started speaking yesterday, the market got a pop which lead to a day long melt up. SPY is back in the 439 area, where we have been anticipating resistance. However, now it has more support and confirmation from high timeframes, so don’t let your emotions lock you in to thinking it MUST go down. Key levels to watch are 440-441. …
Tracks posted an update 2 years ago
SPY spent the last two days of last week pulling back up after hitting new lows. Based on fib retracement, the 439 area is idea for it to reject and make a new leg down. It hit that area Friday afternoon, and we are gapping down this morning, however I’m cautious about this movement for now. Today is the end of the month, and that may come…
Tracks posted an update 2 years ago
Folks, the word today is caution. Things could be very volatile today and there is no shame in sitting out if you don’t feel comfortable. Certainly do not force trades today. Overall trend for SPY is obviously still bearish, but anything could happen after this tremendous dip. I’ll once again be watching secondary and mid level timeframes…
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