I'm long once again, risk is a drop to 4735 here. We need to see a push above 4906 today to validate bullish momentum, else, we might see a selloff if support doesn't hold. My speculative plan is to go short SPX if it fails to validate the bullish momentum, and simply close longs in this instrument (and study wether I want to close my equity positions or not, or simply buy protective puts or short calls to weather a decline).
The AAPL drop after the battery news is what sent this instrument down, but it's still holding above the uptrend mode, so it has a chance to rally, but it needs to do it fast.
Good luck,
Ivan Labrie.
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We didn't hit the range expansion target on time, but we might be in the presence of a larger consolidation. Unless we break down today, we can hold longs and speculate on the uptrend to resume. I'm looking to short rallies in SPX to offset the risk here.
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Keep an eye today, probably wiser to exit before FOMC.
Trade ist aktiv
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I'm back in the trade with half risk, stop at today's low. If still in trail stops and add a half risk position with this new stop. If not jump in! Tomorrow we buy more on dips to the middle of today's range roughly.