SPY "This time is Different"
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As in, we're not going to go make a new high from here as we did in May.
News is PBOC is going to manipulate Yuan in a way the world will be OK with. Well, the problem is that is not what kicked this move off, the new round of tariffs and feeling of no progress in trade talks. That has not changed. Also, suddenly we're happy about them manipulating their currency?? Lol.
We're back in a range I'm ok to look for some cheap puts as fomo kicks in from this bounce. 2600 is the next leg I'm looking at after 2800 and 200 Daily EMA was smashed.
Keep positions modest and see where we end up next week.
GL~~
News is PBOC is going to manipulate Yuan in a way the world will be OK with. Well, the problem is that is not what kicked this move off, the new round of tariffs and feeling of no progress in trade talks. That has not changed. Also, suddenly we're happy about them manipulating their currency?? Lol.
We're back in a range I'm ok to look for some cheap puts as fomo kicks in from this bounce. 2600 is the next leg I'm looking at after 2800 and 200 Daily EMA was smashed.
Keep positions modest and see where we end up next week.
GL~~
Nota
With the moves we saw yesterday, best to use any bounce at this point to find discounted Oct/Dec in your favorite hedges/shorts.Nota
Nota
I'm betting this is a fakeout breakout. Breakdown around the corner.Nota
enhance Nota
The squeeze is real! Still no new high's, and put premiums are still holding. 
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