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11.7.13 Thursday
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MACD’s Insinuation $SPY
Failed Breakouts $DIA
Double Top Neckline Rejection $XLF
5 thoughts on “This is How We Roll $SPY $DIA $XLF”
Markets sure rolled today!
Kay,
I always use news events to confirm charts and I was thinking that if I was a fund manager and had a huge year (every index hitting new highs), I would start now to take profits for the whole year.
I wanna lock in profits before the Thanksgiving week so that I could give out bonus after locking in sweet gains. That way people can sit back and enjoy the rest of the year and spend their money on Black Friday.
Could see more profit taking on any up days next week.
Just saying that is what I would do.
I was able to make a little today cause I was feeling bearish thanks to your video.
I will by puts on any up days next week as long as charts keep indicating a roll over.
Thanks.
Zex_M19 yea after i booked my profits on my $SPY longs at $175, charts weren’t suggesting it was going to go any higher. So ever since than I’ve been on the look out for possible flush like today. I do think this is jsut the start of bigger fall. At least to 100SMA on $SPY daily chart. also have mini double top confirmed today on $SPY
Guys I have been telling you big retracement is ahead of us.
Hey there,
You short on $SPY?
thank you
ManishPatel hey manish. yes im short spy but looking like 50/50 at this point but I would have to say it still looks more favorable for bears for risk/reward ratio