S+P 500 gave a late afternoon Sell Signal' in the last 30 minutes of trading today,
in my work
The rally back from the low near 4474.77, back to 4807.64
was once yet again a "bought" by the "Buy The Dip"/ Short Covering Crowd.
As if it's a one trick pony to instant wealth. I looked at it
As a day trader myself, "the urge" to buy today's late 30 point S+P rally was almost acute,
I mean doesn't every dip present always present yet another buying opportunity ?
i chose to use this what I will call "exhaustion rally, to build a short position on the S+P 500 to 75 %
Opportunity often comes late in the day ,when the really really late buyers are trying to get in,and get long.
Well big money also saw the opportunity to sell, and this afternoon overwhelmed that crowd
and they drove the S+P back down below 4800, and 4794,Support which in my work was a very important level to hold.
At the urging of an excellent market analyst who I spoke to late this afternoon,
I have written this post for TradingView.com
Do note please that this is not to be considered trading advise of any kind.
SHORT STOP AND REVERSE would be at today's late afternoon high of 4807.64
SPX Last 4793.54
THE_UNWIND
1/4/22
Woods Of Connecticut.
in my work
The rally back from the low near 4474.77, back to 4807.64
was once yet again a "bought" by the "Buy The Dip"/ Short Covering Crowd.
As if it's a one trick pony to instant wealth. I looked at it
As a day trader myself, "the urge" to buy today's late 30 point S+P rally was almost acute,
I mean doesn't every dip present always present yet another buying opportunity ?
i chose to use this what I will call "exhaustion rally, to build a short position on the S+P 500 to 75 %
Opportunity often comes late in the day ,when the really really late buyers are trying to get in,and get long.
Well big money also saw the opportunity to sell, and this afternoon overwhelmed that crowd
and they drove the S+P back down below 4800, and 4794,Support which in my work was a very important level to hold.
At the urging of an excellent market analyst who I spoke to late this afternoon,
I have written this post for TradingView.com
Do note please that this is not to be considered trading advise of any kind.
SHORT STOP AND REVERSE would be at today's late afternoon high of 4807.64
SPX Last 4793.54
THE_UNWIND
1/4/22
Woods Of Connecticut.
S+P 500 Low on 1/4/22 was 4774.27
Thank you.
THE_UNWIND