SPY SHORT, Reoccurring Pennant like SEPT 19

31 ott 2022

SPY
Pennant formation at the borderline resistance.

• Resistance at previous level ~388.
  
• Resistance under the broadening of a triangle (white linings).
  

False breakout pennant, loss of momentum (blue flags).

• Similar pennant formed previously on 9/12/22.
  
• Then, next day it drop about $18/-6.3% down.
  
• Lack of volume and breakout tried but failed.
  
  Tomorrow FOMC speaks, market uncertainties.
  Also, Moderna Earnings this week 10/3 Thursday.
  
  Conclusion, possible minor pullback retracements to previous supports.
  
  Not a financial advisor nor a pro/expert trader.
  Just for educational purposes.

31 ott 2022

Nota

FOMC this Wednesday, 10/2 not tmr mb*

1 nov 2022

Nota

Again. Breakout tried & stopped at the boarder line on of the upper broadening triangle side (white line) but still failed and now it’s back to 388.

1 nov 2022

Nota

VIX is turning green on support.

1 nov 2022

Nota

Fed meeting today and tmr 11/1-11/2.

1 nov 2022

Nota

Congrats to those who shorted this morning! The 390 pump false breakout was a great chance. I think it’s going to 382 but not sure when.

1 nov 2022

Nota

SPY almost reaching 384 atm

1 nov 2022

Nota

SPY reached 383

2 nov 2022

Trade chiuso: obiettivo raggiunto

382.67 reached.