Potential Ascending wedge break on #spy, VIX is elevated and testing upper trend channel, spy candle on the daily looks deadly, want to see it bounce back in to channel or we could be in trouble. Keep in mind the last time the market rose this many months in a row, was right before the great depression. I am not normally a doomsayer and play both sides however, I am watching closely and have liquidated all positions in caution. If we start to crash remember to hedge positions or exit, I personally like to keep cash in times of high risk. Something something not financial advice. Wishing you and your portfolio well. Just be careful. Will update when I think the threat is over.
Comment:
Just so you know I am still wary of a possible correction due to many factors I do not really want to delve into at the moment, as we can see the price is still compressing here, all my plays going forward are going to be shorter term or hedged with vix etc. If you follow my plays just make sure you watch the market too, please be safe out there, this is not a reason to fear at the moment, just keep your eyes open to the macro for now.