The current channel has been working well this week, but I think it's approaching some critical point and will dissolve into a range. I'll be attempting to go long intra-day Thursday and Friday from where support shows some strength.I will cancel this plan if we break 2357.
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SPY 15 min my preferred entry points for a long position
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going long intra-day here
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If we can't close above this line, I'll hedge to neutral and will re-long lower. I don't feel comfortable going short. We're in the middle of the anticipated range now.
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This is a nice mini bull flag on SPX 1 hr that started this morning. I still think it will take us out of the channel shortly. I'm not going short here, just hedging.
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The bottom of the new channel has been confirmed. Now let's see if we can hit the top by tomorrow.
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*range, not channel (reference the area between the yellow lines)
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a pullback tomorrow morning should be a good entry point to go long
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I normally use stop losses in trending markets. The art of hedging is dynamite in non-trending environments.
