Never Gonna Give You Up

Never gonna give you up above 4400,
Never gonna let you down below 4300,
Never gonna run around and desert you unless above 4415
Never gonna make you cry without volume during breakout,
Never gonna say goodbye without closing below 4325
Never gonna tell a lie and hurt you below 4000

A Bearish pennant with plenty of other signals.
Continuation to the downside after a period of consolidation between 4400 and 4300.
Looking to open a short position(s) ~4390 and again at ~4349 with stops above 4415.
Price target is 3994, 138.2% fib extension of flag pole (using SPX).

Planning on entering an upside hedge for March with a PT 4492.


>> Not Financial Advice <<
Chances of Rick Astley having another hit single is more likely.

Kommentera:

after this mornings sell off, looks more like bear flag instead of pennant.

if we get a bounce here at 4266 into the RTH rally I will update idea to flag

Kommentera:

The #$%@ your puts rally starting right on schedule.

Kommentera:

GEX shifting and looks like 4400 could be new floor next week giving a chance to break out of trend down.

Gap up monday would void idea.

For gamma exposure levels I'm using updated tool I created over at my website. www.spyvsgme.com/SPX