#SPY Today it gapped up and sold off, We have mentioned last week that once we get up into the 290-300 area, that you should be hedged long term and today we hit 291 then sold off to 285 putting in a dark cloud covering on the daily but it also held that 285.55 so we are not bearish until 285 breaks and then it can head lower towards 273, but if 285.50 holds then we can continue to push higher towards 291.45, 295.65 and 301.

Today a very scary thing happened, Oil crashed and that would be a very telling sign of what will come with our markets. That is not a sign of a healthy market that will see all time highs anytime soon. I warned about oil and lay offs before months ago. The wild ride for the markets is not over, we are setting up for another leg down soon, not sure if tomorrow or this week, but im anticipating by the end of this month. SPY CHP Zone 281-284, Bullish above 285, and Very Bullish above 288.60. bearish below 280 and Very Bearish below 276.50

#SPY held that chopzone today and didn't break that 276.55 but instead formed a inverse h&s pattern and fire up after-hours and hit 283. Now if SPY breaks above 284.90 it can head to 288.57-290 that is going to bee a test of if it can break strong resistance, if so we can go to 293 and 300, but we ne above that first.

I have been keeping my losses much smaller than before but they are annoying to deal with. I am on my 3rd red day and it is getting annoying. Depending on how this week ends after reviewing, a good chance I will be going back to paper trading for 2-3 months so I can save some more money up as well. Trading with 1000 is way too restrictive and I ended up holding my losses longer trying not to waste BP. If I had 2 or 3 trades a day and only risking 3% of my position size, I would happily take a small loss rather than have my planning all go to waste because I have to cut losses. Tim even said you have to start with a realistic amount and even 2k is the absolute minimum.

#SPY broke out of this box consolidation hit our target of 275, now is testing the 4HR bullflag support of 263.64, if we fall back inside 262.80 then wee are bearish headed to 260-250 area and possibly 245 again, Now if we hold above 263.64, then we can remain bullish towards 280-283 and 290

SPX closed below the monthly trendline after failing the hard 2520-2525 resistance area I mentioned. Can be volatile overnight. $AMZN $AAPL $TSLA broke major supports into the close today. So keep today's low on watch as a key level now on all 3.