SPY 2/11 INTRADAY DISCUSSION via /r/wallstreetbets #stocks #wallstreetbets #investing


Alright guys big day ahead! Friday. day after cpi. and day after huge sell off. bullish or bearish? lets find out!

pre market we are obviously seeing some green which im going to relate to the fed not announcing a major hike and that 50-75 bps is the plan with no “emergency”. is that the right move? well probably not but thats not what we are here to debate! we only care what the chart shows us. 10 years back under 2.0 and the vix is relatively flat.

i will not being jumping into puts or calls at opening bell. need to wait and see what she’s going to do next.

supports- 449.5 –> 446.4 –>445.5 –> 444.4 –> 443 –> 442 (bottom of red support for the symmetrical triangle).

resistance- 450.3 –> 451–> 451.4 –> 456 (breakout towards the white dotted resistance line).

do not be a perma bull or perma bear. this very well may retest 456 before we drop lower. or this very well may drop to 442 before finishing green.

remember the goal of today is one 10% trade. take it. secure your profits. and live to trade monday. if you wanna let it ride set a stop loss. https://i.imgur.com/RYiUloU.jpeg https://i.imgur.com/cJye8zF.jpeg https://i.imgur.com/W6i3vAq.jpeg

Submitted February 11, 2022 at 03:06PM by DaddyDersch
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