$SPY hit my first resistance level almost tick-for-tick today. I loaded a significant PUT position at the ✅ area.
Could I be wrong? Absolutely. That’s why my risk is defined. A confirmed breakout above the blue trendline invalidates the short thesis, and I’ll reverse into CALLs without hesitation.
Prediction is optional. Risk management is mandatory.
The next move in $SPY may begin with a trap.
We see a high-probability scenario where price briefly tests the lower boundary of the current symmetrical triangle, triggering stops and forcing late longs out of the market.
That doesn’t necessarily invalidate the uptrend.
In fact, the healthiest breakouts often begin with maximum skepticism.
Watch the reaction at support—not the initial selloff.
If support holds and buyers reclaim momentum, the market could be setting up for a decisive breakout above resistance.
The market transfers wealth from emotional participants to disciplined ones.
$SPY $SPX #Markets #TechnicalAnalysis #CapitalWatch
The next move in $SPY may begin with a trap.
We see a high-probability scenario where price briefly tests the lower boundary of the current symmetrical triangle, triggering stops and forcing late longs out of the market.
That doesn’t necessarily invalidate the uptrend.
In fact, the healthiest breakouts often begin with maximum skepticism.
Watch the reaction at support—not the initial selloff.
If support holds and buyers reclaim momentum, the market could be setting up for a decisive breakout above resistance.
The market transfers wealth from emotional participants to disciplined ones.
$SPY $SPX #Markets #TechnicalAnalysis #CapitalWatch
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