SPG DAILY CHART
Hello Traders, if you guys recall back in one of my videos from within a months time I showed you guys the pattern on SPG on the propriety channel analysis system. I was showing how SPG was in a Head and Shoulders Pattern and how this being a leading stock in the IYR ( REITS ETF ) could be forecasting housing troubles down the road. We already know that the housing data has not been coming out well. Therefore the fact that we have a upper channel breakdown acting as the top of the head, I am looking for a pop up somewhere and then looking to get short this sucker for the intermediate time frame via some strategy I will be getting together. Could be as simple as buying a put, but its all about timing and nows not the time to get short because shes on some support. Will keep on watch, but forecasted levels call for that area where I put the question mark. Mind you this is just the completion of the pattern , NOT THE BREAKDOWN. So this could get ugly, but hell we will be on top of this sucker. We missed the short at the top, but we called it were some of you guys could have took the trade. Now that we identified there are big sellers in there we must wait for another good entry.
No comments:
Post a Comment