Awesome! Good move on taking some profits on /ZB & /GC as both just hit extreme oversold levels on the 60-minute charts that have typically (and so far have) been followed by pullbacks.

Not really, you’ll have to just eyeball it by aligning the reactions that occurred on SPY & QQQ along with those on /ES & /NQ that occurred during the regular trading session. I realize that a lot a retail traders prefer the ETFs but I like to use the charts of the futures as they tell the whole story with nearly around the clock trading vs. the partial story that SPY & QQQ tell with only 6.5 hours of trading each day.

Not yet IMO as we need to see /NQ make a solid break below 8040 as well as /ES below that comparable 3020 support in order to trigger sell signals for the major stock indices. Until then, the near-term trend remains bullish.

Hi
Is this the right time to start position in Short SPY ETF?

Congrats on the profitable trade(s). TLT still looks good but will look much better if SPY & QQQ take out today’s lows by a fair margin as that should trigger sell signals on the stockindexes & likely spark another wave of buying in Treasuries. Best of luck on the trades going forward!

i know, just pointing it out to any new traders. I’d hate for someone to go big into SPXL right now.

Correct. Thx. I’m always mixing up the long & short leverage ETFs when recalling them quickly from memory as I’m an equal opportunity trader, going short & long all the time. For going short the S&P 500, Nasdaq 100 or Russell 2000 one can use SH, PSQ or RWM (1x); SDS, QID or TWM (2x) or SPXS, SQQQ or TZA (3x)