- SPY is in 20 MA support - VIX is in 50 MA resistance - CPCE indicator is in overbought area When Put Call ratio is high like .74, means traders are scared and long more puts than calls. Who ever sold this puts (professionals) will not let this people win. What they will do .. they go and buy the market. There should be a good chance of short squeeze over this position in the market.
"Trade what you see, not what you hope" emphasizes the importance of basing trading decisions on objective market analysis rather than wishful thinking. It advocates for a disciplined approach, relying on observable data and trends rather than emotional desires for market performance. This principle underlines the necessity of a strategy grounded in real-time insights and technical analysis to navigate financial markets effectively.