bookmark_borderTelegram Trading

The below assessment is provided under the disclaimer at http://TSP.Live/trading-content-disclaimer/. Always consult with a licensed financial professional before trading.

Assessment: Looks like that bounce I have been waiting for to release some of the oversold pressures is happening today. We’ll see how far it gets, but even if we remain bearish, it would be normal to have a good 2-3 day rally given how far we have dropped and in such a short period. First major resistance comes around SPY $380-$383 and then key resistance at SPY $390. Above that begins to lean bullish.

Good luck in your trades!

bookmark_borderTelegram Trading

The below assessment is provided under the disclaimer at http://TSP.Live/trading-content-disclaimer/. Always consult with a licensed financial professional before trading.

Assessment: Looks like we are going to start down a little (as of my typing this up just after 7am ET). I am expecting a little oversold bounce today. If not today, then turnaround Tuesday looks to be the likely candidate for a pop. One little short covering rally, given how oversold we are could see a pretty violent bounce. So, if you are in bearish positions, it is something to keep in mind. I think after the short covering rally, which would likely last a few days, we will find ourselves moving to a new low that finishes at some time in October. At which point we will have a great spot to pickup a lot of stocks on our wishlists at seriously discounted prices.

Let’s see how today plays out.

Good luck in your trades!