SPY/QQQ Plan Your Trade For 7-19 - Bearish Exhaustion??

7月19日

Where's the Bearish Price Exhaustion pattern I predicted? Why is price waffling downward? I thought we would see a bigger upward price reversion setup.

Yea - I know. I thought we would see a bigger upward price reversion in early trading, too.

This is how things go with the markets. You can't force them to do anything. You have to be prepared to make the best of whatever the situation is right now.

I was asked recently if I thought buying a few Call options near today's lows was a good idea (related to next week's potential rally setups). Although I won't tell anyone what to do with their trading account - statistically, starting a small "anchor position" relative to price expectations 5 to 15+ days out is not a bad idea.

I do that with my swing trades often. If I think something is going to move, but I don't have confirmation of any future price moves on my charts, I may start by buying 5~10 shares as an "Anchor Position" to remind me to keep an eye on it in the future.

I created this video to help you understand what I'm thinking and why I'm not too excited about what I see in the SPY.

Buckle up. Things may get a little crazy later today with a squeeze.

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