The past few weeks have been the most difficult to trade and I think will go down in history are the most confusing times for the markets without a doubt. I have been dumbfounded of the last few weeks action although I did call this rally which I think has upside into July but thursday/ fridays action has put a light bulb over my head again.
What happened? The first clear sign I have seen in weeks that of a lower high pattern on the daily SPY(S&P500) chart. This to be is a signal of a more substantial pullback present and I have already step foot into some more puts at the 920 area and doubled up on ES puts there too and now averaging somewhere in the 866 level now. Do or die I stick by my calls and I will be looking to play some puts here as I believe we are coming close to the top of this rally especially in terms of time.
I hope you have a safe holidays and remember what this holiday stands for. I often remind myself that holidays stand for something than just a day off from work or school or to get gifts. Memorial day is for the soldiers who fought for whatever reason the country our tribute goes out to them.
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- Charlotte, NC, United States
- Bring real information to the average person about the Financial markets. I am a technical trader that uses alot of technical tools such as Fibonacci, Bollinger Bands, MACD, TRINS, VIX to read the markets
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