Since I opened short positions last Thursday (I started few shorts even before that, but was hedging them heavily) in just 3 days SPX is right at my “risk/stop levels”.
If Tuesday/Wednesday there will be no turnaround or market will put on its rally hat again – I am taking my losses (about 7% of portfolio as of today) – it always better think when you are on cash.
Below are two of the same SPX weekly chart – first better illustrates current channels in play and second - “stops/risk levels”
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