SPY @372: 1st T 357, bearish w stacked Put Butterfly 367/357/347
SPY has been in a topping pattern since Dec 16, it stalled at 1.272 Fib. Do not think Algos have much power left to move the market higher, given the extended rally and the uncertainty with a less market-friendly change of guard in Jan.
Targets are 363, 360 and then more important one 357 at which point, we may see some consolidation.
A Put butterfly for Jan and Feb, stacked is a cost-effective hedge.
SPY has correlated with Stoch/RSI well, for its ebbs and flow. There is a powerful squeeze about to fire soon too, within a few days (is my guess).
Happy New Year, Peace, Love, and Happiness to everyone.
https://postimg.cc/5YMQtCDD
Targets are 363, 360 and then more important one 357 at which point, we may see some consolidation.
A Put butterfly for Jan and Feb, stacked is a cost-effective hedge.
SPY has correlated with Stoch/RSI well, for its ebbs and flow. There is a powerful squeeze about to fire soon too, within a few days (is my guess).
Happy New Year, Peace, Love, and Happiness to everyone.
https://postimg.cc/5YMQtCDD