SPY UPDATE

Nov 7, 2022

I took a swing on Friday with semiconductors and went all in mid day today.
Took all profits EOD as I reached my target at +-380 and since we are overbought on 5-15min ,
went with small positing shorting semis.

My last chart was painting H&S, which I was not completely sure about.
Its still valid and may play out, however SPY is bullish and may shoot much higher.
Unless some horrible news happen, I am convinced we are going to end the year with 400+
there is a inverse H&S on 4h. (green line)


So there is no clear path now and if we don't complete H&S in two next sessions,
I am going to seat on cash until things become clear.



Good luck to you all!


Note:
I made a quick post mid day to have people loadup , but the time frame was too short and my post didnt make it.

Nov 8, 2022

Note

I played short on a retracement and got out at around 379, that was fast. I didn't expect V recovery. I am on the sideline for the moment.