The fake breakout that I talked about in this previous post (Click Here) is following the red scenario. I'm gonna wait patiently until this yellow area between SPY$115 and SPY $116 is partially filled in order to get 100% short. Still waiting to pull that trigger. More post to come after the opening bell. Stay tuned !
What most readers of ETC Corner like about my blog is that it's clear and simple to understand. I don't use too many indicators and get straigth to the point ! Regarding my short strategy on the SPY, I still believe that we will ultimately break below SPY $101 in the near future. However, how we will get there remain to be seen. What I intend to do is the following :
I am already 50% short at SPY $110.90 as shown by the red arrow.
What I'm going to do forward is very simple.
A) If we get near the yellow area near SPY $115-$116 then I'll pull the trigger without hesitation on the 50% cash remaining.
B) If we close below SPY $110 before getting to that yellow area, I will pull the short trigger on the SPY. That would also mean that we will not see SPY$115-$116 !
The opinions expressed on this site are made available for educational and entertainment purposes only. Nothing on this website should be interpreted to state or imply that past results are an indication of future performance.