7/7/2021 Wednesday

$SPY if you followed the swing play from last week or entered at open on tuesday on rejection of channel rejection from sunday’s newsletter, you had a good start to the week. Then today I called out in telegram the double top rejection at channel once again for quick winner today.

$SPY (daily) back to back days with hanging man with daily and 4H negative divergence (mentioned on twitter) I entered back into $SPY july21 puts for multiday swing (called it out on telegram)

Hanging man “Since its seen after an advance, it signals that selling pressure is starting to increase” We had back to back days of it at channel resistance.

(source: https://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=1201)

BIG PICTURE. Remember we are at the top of the larger channel in $SPY (weekly) with negative weekly divergence

$GME triggered from the sunday newsletter but didnt react – pass as it got choppy. You could have tried going long on move back above the zone or waited for the daily hammer. Now the next setup would be a bullish reversal confirmation = green daily candle close above 197.50 for a swing. IF you are more aggressive, you can try long above 197.60, 10 cent above todays HOD

$BABA (4h) long setup at 200

$DAL (daily) long setup at 38.35

$F (daily Long setup at 13.13

$JD (daily) long setup at 62.79

$M (3h) long setup at 16

$PFE (daily) Long setup at 37.63

5 thoughts on “7/7/2021 Wednesday”

    1. Not much there. Already broke out. FOMO stage. Cant go long as its too extended from even daily 5sma. And extended doesn’t necessarily mean u can short. although as I posted on twitter, it has potential for evening star reversal pattern if we gap down and have a bearish candle tomorrow

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