Double top on the bear flag in S&P
These were some interesting past couple of days trading this bear flag.
I must admit I definitely got out of positions too early and missed out on some good gains though was still in the ultra positive as far as trades and my attitude at the end of the day haha.
As the title says we hit a double at the top of this flag and bouncing off of the once long term support now resistance (red line).
I think we could see a retest of the lower trend line of the flag though we very well could just continue the trend lower to the next area of 4250.
Mind you ladies and gentleman it never is just a straight line so be prepared for some more 2%+- days until we get there.
Watch the yield curve though I think most people aren't talking about the implications of a withdrawal of monetary support with the FED and their monthly purchases.
That's all folks
p.s most of your indicators probably aren't working as the normally would with these types of movements like mine are.
I must admit I definitely got out of positions too early and missed out on some good gains though was still in the ultra positive as far as trades and my attitude at the end of the day haha.
As the title says we hit a double at the top of this flag and bouncing off of the once long term support now resistance (red line).
I think we could see a retest of the lower trend line of the flag though we very well could just continue the trend lower to the next area of 4250.
Mind you ladies and gentleman it never is just a straight line so be prepared for some more 2%+- days until we get there.
Watch the yield curve though I think most people aren't talking about the implications of a withdrawal of monetary support with the FED and their monthly purchases.
That's all folks
p.s most of your indicators probably aren't working as the normally would with these types of movements like mine are.
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