Is SPY on the brink? -- Trade ideas for Mon Nov 17
yesterday has a hedge I alerted liquidating most long term swing long holdings. in coming weeks we will learn if good thing or bad. In the mean time lets on on these wild moves.
Market Context
SPY enters today after a volatile week, with the index consolidating in a tight range post a sharp pullback from 685.88 highs earlier in the period. The 1-minute chart shows a bearish bias from recent failed rallies, forming a descending triangle pattern with lower highs since November 12. Volume has tapered in premarket, suggesting indecision, but the overall trend remains downward from the 685 peak, with support tests near 670.63. Bias leans neutral-to-bearish unless 675.12 resistance breaks out convincingly, potentially signaling a relief bounce.
Friday’s were textbook. I sold early but got right back in thanks to spectre AI. which said 676 is coming. and we got 675+.
Solid work team. we then planned for the afternoon short and got paid there too.
scroll down for today’s ideas.
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Plan for Mon Nov 17
Stick to process. The process and trade setups I teach works. Rinse and repeat over and over again. There will be losses. Any good system will have them. Being systematic also means the gains will repeat and come again too. If you keep changing your system/process trying in an effort to never lose a trade, you will never get to where you want to go.
Pinpoint reversals amid choppy action for quick profits today.
Market Context
SPY has been grinding in a tight range over the past week, oscillating between 661 and 685 amid broader market uncertainty. Yesterday 678 and 675 broks triggering a bearish bias with potential for downside overnight, but a possible rebound if buyers defend key floors. Yesterday in THT PRO, I said I was liquidating my long holdings 50-80% of long holdings around 676 saying something doesnt feel right and if 675 doesn’t reclaim 665 coming. We’re here now.