Same recipe as last week. Looking for a rejection / confirmation of last week's range and paying some attention to those open gaps if we trade higher. Could be we'll see some consolidation before the next leg lower (which I think is coming). Would be odd if we bottom out here and don't take another plunge at the June lows, right? Best to not marry any view, though. SPX Weekly
Likely just clearing out some of the over aggressive shorts down there near June lows. Not really excited about long side either, but can certainly have some decent up days this week given the setup, so need to be aware of that regardless if it's likely to be short lived or not, need to trade what's in front of us.
Isn't trading awesome, in just 5 minutes i made more than working an entire month in my previous job. Might go higher but i am cautious since the downtrend is strong on the bigger timeframes.
I believe we will be down to test that June low this week and then we'll see what plays out. I suspect that low will prove to be a new ceiling on the market in due time.----There's money to be made on both sides----pick your time frame.