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r/StockMarket – Goodmorning Traders … Did we just stumble off the edge of the abyss… my 3/5/21 Premarket outlook Technical Analysis

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Good morning Traders, correction time but first… I will go thru the spy chart in the video below but looking at things this morning here is how to interpret things… Are we trading at the edge of the abyss Todays spy Outlook

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Correction time but first… On the spy we broke thru a very important channel and closed below it. So don’t be surprised if we get this angry push back up in to that channel. Here are the 2 different outcomes and Probabilities to plan for. How much of a breather do we take from sale side activity today, overnight now let’s start the selling again or are we charged up enough to take an even bigger dive today? The 2 outcomes are: 1) we make it back up between 380 to 381 then take another dive lower toward 368 before traders pack it up for the weekend 2) We bounce then consolidate between 380-384 then expirations and packing it up and not holding positions thru the weekend sends us higher.    ……………………………………………………………………………………………………..

  1. we make it back up between 380 to 381 then take another dive lower toward 368 before traders pack it up for the weekend 60%

  2.  We bounce then consolidate between 380-384 then expirations and packing it up and not holding positions thru the weekend sends us higher

We are here and if we push lower, we are at the point of no return so if we push lower below the 370. I would fully expect for a big gap down coming into Monday. Watch rates today to see if they continue to rise and Bonds selling continues then so shall it continue in the broader markets

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