SimpleSPYman - Alarm Bells?
Week 24 - SPX/SPY Index Update
I advise using the app/website as emails are often truncated due to images!
ALWAYS INVERT!
I thought it would be good to use a long term chart this week just to put Friday into perspective.
Friday was a big move and I am not dismissing it. I have been saying for a jolly long time in the second year smaller moves are met with higher vol simply because the same levels now come in 3% moves instead of 7% moves.
It is all the same chart so I can use all the same data. In the last 1761 trading days SPY has been above “trend” i.e. in green or yellow 83% of days.
We could probably include orange as the distribution is very similar, but we need a transition point.
In 1761 trading days price has never moved directly from Green into Red/Black there is always an intermezzo hangout in Orange.
KeepItSimpleSubstack
Hot Takes with Hank
Think pieces!
