SPY/QQQ Plan Your Trade For 9-16 : Gap Reversal Pattern

9月16日

My honest opinion related to the next 2~3 trading days is - go take a few days off and wait out the markets for the next 48+ hours.

I don't believe there will be much in terms of opportunity over the next 48-72 hours as price is likely to chop around near the top of the current FLAG. The real opportunity comes late Wednesday and into Thursday/Friday as price should attempt to break downward (if my analysis is correct) and move into a solid 5-7+ days of downward price momentum.

What I see happening over the next 48-72 hours is Sideways Chop. Not fun for the average trader and really not something you can make a lot of money trading unless you are very skilled at catching short-term price rotation with options.

Overall, the next 48+ hours should be about observation - watching price attempt to stall, break away from this FLAG, and setting up for the bigger move near the 19th & 20th of September.

I'm not telling you how or what to trade. I'm just saying I believe the next 48-72 hours will be very difficult for average traders.

OK. Happy Monday.

Get some.

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