ContraryTrader

Spy headed to 380

Short
ContraryTrader Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Should test 380 by minutes tomorrow . Was able to short at 385 to 382 this morning.

Bear flag playing out here.. Careful if your swinging longs..

Sizaleable 350& 360$ 1/13 contracts coming in..

Fed minutes will decide if this bear flag pattern kicks in tomorrow
Comment:
Hit the bottom of that trend support around 378.70 and bounce.

If we drop below that 376 gap close at play...
Comment:
Look for a retest and gap close to 380 at the open.
Stop loss 384.50
Comment:
Covered on the spy short... may drop to 379 or even lower at FED meeting but I'm good with 80%
Comment:
Vix at support here.. Spy back at resistance..

I took a short on QQQ at 267... target 265
Stop 268.50
1/5
Comment:
Placed a trailing stop here on QQQ... this thing might test 263 🤑
Comment:
Watch the VIX at its daily 21... the market is and will remain bearish as long as vix holds above that

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.