I rarely gain nett profit traction with new positions when $SPDR S&P 500 ETF Trust(SPY)$ is at such point we are now;
1. 4.6 x ATR% to 50-MA at vs 6 (Yellow Dots)
2. 5% Historical % Extension from 50-MA
3. 1-Month Nett New High vs New Low
Avoid being quick to pull the trigger this week, manage what you already have.
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65% isn't extended but we are already on track to 80% historical extension
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a hunch for the quote of this week; If you don't sell into strength, you'll end up selling into weakness.
Levels for all various indexes and MAs
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I don't want to be misquoted as calling top😅 but i urge you to do the same exercise on those charts
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