SPX SPY Long Attempt
A bit of a hail mary hero trade here - assuming the current support level holds there's a good chance we get a local bottom here. Stop loss would be a daily close below the green box, but the bulls saved it today which shook me out of my put attempts.
Should we break upwards with strength i'll be looking for clear follow through, reaction at key levels including the 9DEMA and the daily KJ should we reach it. I don't think there is enough fundamental fuel to rally hard in the short term but some intense volatility to the upside is completely reasonable to expect in the current market conditions.
Bull div on the RSI is undisputable, well below high TF Bollinger Bands, key high TF support level... not a gamble to get a bit of long exposure here.
Good luck!
Should we break upwards with strength i'll be looking for clear follow through, reaction at key levels including the 9DEMA and the daily KJ should we reach it. I don't think there is enough fundamental fuel to rally hard in the short term but some intense volatility to the upside is completely reasonable to expect in the current market conditions.
Bull div on the RSI is undisputable, well below high TF Bollinger Bands, key high TF support level... not a gamble to get a bit of long exposure here.
Good luck!
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