Correction to what I mentioned above, there has been 3 consecutive daily down closes previously this year, actually twice in January. But what has happened so far this year, for the first time, is weekly closes past two weeks lower than the prior week's close. Anyway let's see how things play out.
You should really look at NQ, since that beast has been the most dominant among other indices. On Friday, it decisively CLOSED below EMA(20) for the first time since who knows when. And like you said, this is also the first time its weekly had 2 consecutive down candles. But then again, the bull market ain't over so anything can still happen.
There's nothing worse than a fed week. Market is basically stuck until Wednesday at 2PM EDT and then we will see all kinds of crazy V shape moves. Yes the Q's finally had 2 red weeks, but it was a struggle and unconvincing. You know after 4 of 5 red days last week, Monday and possibly Tuesday will be green. So QQQ will easily retrace to 436-437. Then we have the fed and nothing exciting will happen, but market will still probably pump. Market has been more choppy than anything else recently and the "down move" has been very unconvincing.
Fair enough. Posting trades ain't necessarily "real", though. For obvious reasons. Number one being that you usually don't know if that is just one among many other trades that ain't posted. Also, nothing is known about size, i.e., the prior big winner may breakeven after the next small loss on twice or thrice the size. Further, it's quite plausible that a trader posts during a winning streak, but stops posting during a losing streak. I should know. This is just a general observation and not directed at @schizo personally. Schizo did announce his retirement from day trading here on ET after a shorting campaign leading up to the prior top in early 2022, though. And he even said life was better afterwards in a follow up post.
Is it possible to fake your trade when you're posting LIVE, as in under 30 seconds of execution? How the hell are you supposed to know in advance whether it will turn out to be a winner or a loser? You try it and tell me if that's even possible. But you're right that I don't post all my trades. I don't see any purpose either for me or others. However, even if I wanted, there's no way for me to sugarcoat and post only the winners. Again, I don't see how that's possible with live trades. As I've said, once a degenerate trader, always a degenerate trader.
Nobody knows if the trade is actually taken or where it's actually exited. Nobody knows the size. And since you just admitted that you don't post all your trades, a string of live calls are meaningless as any kind of proof since it's not showing the complete picture. And since so many trades are posted, it's literally impossible to keep track. Bottom line is that posting trades or calls on a forum isn't really proof of anything. And that's not directed personally against you. Just a general observation and comment.
Well, unfortunately for the OP this was another failed top attempt. Nearly impossible to do in a market that has no top. SPY at ATH. There is truly nothing that can stop this market
I said from the beginning of this post, that this market will never go down and it won't. Any short prediction is a losing best. At best you get 1-2 days followed by a guaranteed V. You will never see even a 5% pullback again in this market.