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.

Petr