Major slingshot action. $SPY significantly outside upper bollinger. Very high probability of short term pull back. Added more to my $VXX Jan 2020 calls today.
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@TKPTrader the sharp, heavy September sell-off surely throws the BB out of whack, no? even with August’s run in consideration... how does it compare to a weekly BB (in the car atm and will look later)? also - a case could be made we’re further along in economic terms, covid sentiment and political finality. ie the other side of all this - and the market should be moving higher (at a reasonable pace in the most sound names)
@iggybb I don't pay attention to econ or news or any of that. SPY outside bollinger isn't always initially bearish, but it will eventually mean revert. Today was a very solid close outside however, not to be ignored short term.