We had quite a scare with treasury yields "Soaring" last Friday and now 1 trading day later with just a slight pullback on yields and we're back to normal, folks!
Meanwhile SPY paints lower highs with less-than-convincing volume on the rebound. I'm not sure if I would necessarily go short or buy puts here, but I think it is risky being in SPY until we confirm above 394 or re-test 375 and bounce, with volume.
Articles like this coming out are priming the public to accept the effects of inflation as money velocity will increase from it's absurd lows (our money velocity has not been this low since the '60s!) and the effects our our some ~30% USD dilution will start to be felt in the economy at large. This, in theory, should be "good" for stocks nominal value in the long run, but my assertion is that we are overextended in the short run and there will be more yield/interest scare in March.
I am not a financial advisor, this is not financial advice.
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keep an eye on 375 and 390-394 this week... a break below 375 could potentially cascade down violently but I wouldn't bet on anything just yet..
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pullback on open as expected, but less than anticipated. we saw 386.59 before noon. now almost 1pm, we are again bouncing with weak volume.
This thing doesn't know where to go, and it looks tired.
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down the channel we go!
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here's our 375 bounce. will it hold? c'mon bulls, stonks only go up - let's see that volume to back it up!!!
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Great place to take some profits if you opened any trade based on this set up. No matter your positions, we can all learn from this market behavior.
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trade clearly over as the top channel was broken. fun set up and tp1 was hit.
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.