
Cilnt Awaua
64 posts







$SPY Pullback time! For those who have been following me for quite some time, you all know I called the market bounce while everyone said we we keep crashing. Did I expect us to climb this high this quick? No. But I've played the correct direction and keep adding on every dip for more upside. For this reason, so many people on here have been calling me a perma bull. While that is entirely incorrect, I do tend to always lean more bullish when we're in a bull market. In other words, I play the trend. While I love nothing more than massive green candles, I think we're now approaching a possible small pullback of 3-4%. This will be healthy for the market. $SPY has run hard inside that ascending channel off the April lows, nearly vertical. That's a 13%+ rip in a very short window. Moves that steep and fast tend to mean-revert. The channel is getting extended and price is pressing the upper channel line. MACD is showing a sharp divergence warning. Price has pushed up to new recent highs but the momentum reading appears to be rolling over or signaling exhaustion right at that circled zone. That kind of divergence at a local high is a classic fade signal. While a pullback isn't guaranteed, I do think bears will get a chance to celebrate a very small pullback and be teased with another possible "market top" only for new highs to be made again in late May. NFA $QQQ $IWM

























