Dim Guy
@voltron_trader
Not trading advice. For educational purposes only
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I've been saying for a week now that ES needs to pull back to its 20day sma(red) for a proper pullback to balance buyers and sellers. Now we've finally pulled back to there. All you greedy pigs buying high flying tech stocks above 4600 deserve to get your accounts wrecked.
Fed funds rate peaked at 5.5% in 2007. We all knew what happened next..a 55% drop in SPX in the next 2 years. FF rate is at 5.5% today. I expect a similar drop as in 2008-2009, happening in 2024-2025, somewhere between 30% to 60% drop.
Can ES fall to the 50% retracement this week at 4509? Or may it fall to the 61.8% retracement around 4485?
9) Play Out Trade If we entered this trade it would be $1,200 as the trade worked perfectly from out demand zone to high of day.
Michael Burry was right. About his maybe. As usual.
Used up all my mental capital trying to figure out which way this stupid market wants to go. Here are a few macro factors:
United States Trends
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