The SP500 has dropped 20.70% from its all-time highs to last Friday’s lows. and my SP500 longs almost got stopped out on this move.
I’m still holding these longs because my stops were wide enough on this very long-term trade.
What I’m looking at here is mostly volume. The volume trade at these levels profiled from the beginning of the pandemic rally and in the shorter term, spikes in buying volume in the past week or so.
Have a look at my thought process in this video
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