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OK you know the drill usually the way the market corrects is in an ABC pattern. We obiously did A down and B up. B up terminated in a false buy signal on the MACD bullish cross. Now were doing C down. Look for C down to terminate in a big down day on a huge volume spike. That should be the place to throw long. Unless it turns into ABCDE which is a low probability but does happen.
bearish as of SPY 406 on 2/17/23
currently: end bearish as of SPY 406 on 3/6/23
I was actually happy to see the big rally after hours because I thought that would be a great short with an eye on some wave C bottom. Of course, it gave back all the gains before the open.
bearish as of SPY 406 on 2/17/23
currently: end bearish as of SPY 406 on 3/6/23