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Consolidation overnight, so bias is a little bit up. However whether the low was in, normally should not, normally.
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SPY 15. Up. Up. And up. Statement by the bulls. Not dead yet. Although hit hard by the huge decline starting in April. This move up might not hold though.
Charts posted are not recommendations. They are just a sharing of information.
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Al_Dente wrote:We've seen this play out a few times before: a "potential" bottom
60m
"Recency Bias" say to ride it (lime arrows) until it fails (red arrows)
Al_Dente wrote:We've seen this play out a few times before: a "potential" bottom
60m
"Recency Bias" say to ride it (lime arrows) until it fails (red arrows)
I like that chart!
Thanks boss
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5/13 zh: As SpotGamma warns, outside of the very large 4000 strike, the call positions remain light.
... you can get face-ripping rallies here.
This is just a very lopsided, unbalanced market. ... Note that the call volumes are near lows, with put volumes at highs.
SpotGamma believes there is no clear catalyst to close out puts until 5/20, and so rallies are considered short covering. These can lead to violent moves higher, but are also subject to swift reversals. We will continue to frame rallies as short covering until we see material call positions enter the market.
If we can recover the 4000 level [WE DID TODAY] we think upside pressure builds opening a rather quick recovery into 4200 for early next week. Without recapturing 4000 then this could simply be a nasty bull trap and we continue to watch 3800 for material support.
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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