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Revealing info $SPY is currently following a fractal of the 2008 market crash. I did some research on the History of NEWS events in 2008: Supply Chain Issues + #Russia Vs Georgia war, countries falling into recession, and a few other familiar headlines here in our world today..
Market update : Powell spoke π now, let's not forget, the last 4 times we saw Powell speaking the momentum was short lived (1-3 days) and reversed..if bulls get exhausted in the next few days IN OUR ZONE that we've outlined since OCT 13th π we will swing short.
Simple Tip for beginners while markets are dropping πΒ
Short when price goes up and close the position in increments as it passes the previous low. (#notfinancialadvice)
Here's the bullish scenario on the #Energysector which we've been playing all year with the whales π³Β
PLAN : if the correction is healthy (low volume and angle is shallow) we get in on the dip.
Market Plan: Watching how the #StockMarket reacts to this pattern. IF we spot weakness, we're shorting for 3-4 weeks. If not we're day trading bullish until weakness occurs
Tell me the #FOMC had a meeting without telling me FOMC had a meetingπ
Once Again #FED meeting initial reaction is totally reversed into selling pressure that's twice this month
Why we don't trust initial FED meeting reactions:
Inflation came in strong 8.2% Initial reaction was selling on $SPY but lacked pressure and reversed. Patience is key and observation is a strategy.
@mdeepe80 Love trading LABU and LABD been my favorite trades all year with ERX. Look at the comparison between the LABU bounce and any other sector from June to Aug 2022. Significant.
We've been mentioning this drop since May and comparing it to 2008 as well. I like what @SuburbanDrone did on his charts in comparing it to 2018 and 2020 π
Why we don't trust initial FED meeting reactions:
Inflation came in strong 8.2% Initial reaction was selling on $SPY but lacked pressure and reversed. Patience is key and observation is a strategy.
@CyclesFan Nice analysis so I'm assuming after another 40 day period you'd be looking for a larger wave down right? We are as well but use the pivot points instead of the 4p day cycle π