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S&P Weekly 9 Sell Setup
We opened right at weekly/daily DeMark range projection targets and now have unperfected weekly 9 sell setups.
Downside target this week is 434 on SPY if sell setups continue to play out and upside moves get faded.
As of the last post, I was quite bullish on rates and oil. It looks like there is some short-term exhaustion on the bonds as those plays worked out well. Hourly combo 13 on TLT and 8/9 on daily buy setup off TDST.
Ironically, oil is on 8/9 on the daily sell setup as well.
I would be locking in profits short-term on the oil and rates trades. Continue to hedge short-term equity exposure and wait for the next fat pitch.
On the crypto side, Bitcoin still hovering a weekly 9-13-9 sell setup from the 13 risk levels.
All in all, good time to go fishing.