SPY correction continues & another earnings season begins SHORT

2024年4月22日

SPY on a 120 minute chart uptrended from October into late March. A standard Fibonacci

retracement for this trend down could take it down to the 475 range or about another 10%.

Current price is under the daily SMA 50 ( blue line) at 495 and could continue to fall into the

SMA 100 ( green line) which is confluent with the Fibonacci retracement level. Deep support of

the daily SMA200 ( red line) representing more than a 50% retracement is at the 450 zone.

Megacap technology earnings upcoming may lead the way down or cause a consolidation for

a reversal. April will likely be a big red month. April showers bring May flowers?

2024年4月22日

交易進行

Shortentry add at 502 at the intraday high:

2024年4月23日

交易進行

SPY pulled back on the trend down today making for an add entry on the short position.

2024年4月23日

註釋

and the same for NVDA

2024年4月23日

註釋

and NFLX among others

2024年4月25日

註釋

2024年4月25日

註釋

Looking at put options for 2-3 days expiration ITM. Price trending down today to

make up for the uptrend yesterday. Took 2 shares at the first high pivot and will sell

one at the low pivot of the afternoon.

2024年4月26日

註釋

Nice volatility for intrday trades today. Expecting a downtrend resumption tomorrow.

2024年4月27日

註釋

SPY reversed today but it may be shorts covering to take profit. I have opted to maintain full short positions going forward for now.

2024年4月28日

註釋

SPY is still only 5% below the 2024 ATH and putting in a bit of a bear flag. Overall
supertrend is bearish bias ongoing.

2024年5月1日

交易結束：目標達成

Proftis realized position closed going long on the rebound.