Hi guys. I have a tradition of looking at the weekly once a week and looking at the monthly once a month and not looking at 1 minute every minute. Here's my current understanding of the Price Action. Happy Saturday.
A shocking confession: I'm more bearish than bullish.
Explaining both the XIV trade and why forecasting is BS
Forecasting is educated guessing that creates points of reference imho. What I think is more valuable is contingency planning that we as traders have to perfect.
@Avasreader, Yes, it's been bullish for 2 weeks in a row and we have to go with that until it reverses. I woudn't be surprised though if this level holds. SPY shows some very strong resistance at the current level. IWM is ranging and being lazy. QQQ is bullish on low volume. Monday morning review incoming :)