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Chart Chat: Macro SPY Channel Update------Start Channel--4/22---to date -----Mkt reversed from lower T/L----Now approaching Upper T/L at approx 560 to 561 !! ( WOW Bottom to Close to Top 3 Days ) !!
Chart Chat: SPY 4 Day 30 min Rising Channel --last touch uppr T/L ---- 555.05------Mkt 3 Moves Up------MACD 3 Moves Down----Possible R3 to Da Downside if Channel Failure ! ----Line in Da Sand ---- SPY 551.56 ---- Old Fib--Now Support !!
The momentum is key, in 2022 inflation destroyed the momentum, now that inflation is tame the question is what will be the momentum killer this time?
Unless you’re using leveraged ETFs, if TQQQ was around in 2000-2003, it would have lost 99% to $1, but you would also have been a mega millionaire now if you were able to buy.
The market is made to go “UP” so any downside action is just consolidation periods for buyers…
All the working class with 401ks billions of dollars are invested into the market and continue to grow & expand the market most people don’t realize this..
I suppose if you are doing options you will need to guess more often but if you do guess puts, it would definitely be more consistent in a bear market. I was mostly referring to buying stocks.
WELL AT A CERTAIN POINT YOU WILL NEED TO TAKE A GUESS !!
IMO, THE MARKET NOW IS IN THE INSANE VALUATION STAGE; MSFT PE 45.....AMZN PE 80......AAPL PE 35....ETC.......
HERE I AM WILLING TO GUESS ! IN FACT I BOUGHT THE SEP 21 540 PUT AND SOLD THE SEP 21 510 PUT.
JUST YESTERDAY. BOUGHT HALF THE POSITION AND IN THE NEXT WEEK I ANTICIPATE BUYING THE REMAINING HALF.
ALSO I BOUGHT THE SQQQ !!
puts at 555-560 should be safe especially heading into August September and October
not to mention a little thing call the US presidential Election
Here is some really fine advice, create a system that will identify a bear market macro trade & also identifies a bear pullback within a bull market, then stay in that trade until you get confirmation. Don’t guess, don’t wish and don’t enter a perceived bear market just because you feel it in your bones. You will lose oh so much more guessing not to mention the huge move up. Better to take a small lump than a wallop.
Scam market. Got some 535 puts for Tuesday
they pumped META up $30 today
what a joke
You too, see ya Monday
Made a Hit at R1 right off Da Bat-- Dat was it !----There not gonna give up R2 today!----- Dats it for now !----Have a good weekend !
SPX 5 min CCI reversed---look like no closing Wagg Today ! ( Vix 12.61 down to 12.34 ! not gonna happen ! )
Like somebody said earlier --should have SPY options in .5 increments ---would be great !!
SPX 5 min Red Line at 5522-------SPY at 552 !--Doesn't seem to mean much lately !!
SPX 30 min MACD Topping Out---still not showing Sell Sig ! -----Pretty steep climb on those candle sticks !!!
Seems like we're going back to 554
Better if have repeating patterns to short intraday----other wise odds go down---just happened to pick off an R1 Or R2 here & there before the momentum gets going !-----
As they used to say---Don't Fight Da Tape !!!
THE MASTER ALWAYS IS THE LEADER !!!
New Vix ----Vix rejected at Da 5 min Red Line-----No big sell off today if system is correct --we will see ? ( SQQQ 7.44 )
Mkt Ridin 161% Fi8b at 5615 !! Was Resistance---Bingo Now Support-----It's Magic !
SPX Ridin R2 at 5560 ! Another shoot out !!
New Vix Fine Tune----Vix 5 min Red Line-----Calls below-----Puts above-----Looks good----keep U trading right direction !!
Buy real estate in real bad hoods, you get a great cap rate and the locals all have section 8.
Bitcoin taking a sweet dive, I’ll know when and if it hits bottom.
And with all your manic posts you’ve been leading the way.
desperation is in the air, trying to prop this market up
great opprtunity to short
THE HIGHER THEY GO UP THE FASTER THEY'LL GO DOWN !!!!
THEY ARE NOT FOOLING ANYBODY !!! LOAD UP ON SOME SPY PUTS.
this week and today is nothing but super low volume and pumping mega cap tech
QQQ volume 15M
SPY volume 15M
some of the lowest volume of the entire year
YOU ARE WITNESSING A REAL TIME BLOW OFF TOP !!!!!!!!!!
INSANE VALUATIONS
5555 on Sp 500 make a wish
what an excellent level to GO SHORT
NO KIDDING, REALLY !! THIS WILL END BAD, WHEN IT'S ANYBODY'S GUESS !
BUT 35 PE FOR AAPL......45 PE FOR MSFT......90 PE FOR AMZN....100 PE FOR NFLX....ETC........
IS A RED FLAG GLARING YOU IN THE EYE. YESTERDAY I SOLD UPSIDIDE CALLS ON QQQ,
FANTASTIC PREMIUMS !!!
IWM is going to get destroyed soon then people will see just how much the MEGA CAP stocks are masking everything
the math is no longer making sense
just passive money flows and algo programs manipulating the averages
Not many sellers today
guess 555 calls the play today
AAPL WHAT A STOCK...WHAT A BARGAIN !!!!
PE 35 WITH DECLINING SALES , WHAT COULD BE MORE POSITIVE !!
BUT WAIT,,WAIT.....AI IS COMING TO SIRI, AAPL CONVINCED THE MARKET
EVERYBODY WILL RUSH TO UPGRADE, SO THE MARKET CAP WENT UP 500 BILLION ON THAT !!!!
MSFT IS UP 200 BILLION IN MARKET CAP IN FOUR DAYS !! BARGAIN PRICES
145%--Quick trade off R1 --- Now bouncing off Da Pivot !! ----- Da SPX 5 min Red Line way down at 5495--Dats the one I'd like ta Bag !! Da Game of #'s !! ( Friday In & Out )
they will try anything to pump markets but the top is near or in
AAPL up $3
MSFT up $5
META up $14
GOOGL up $3
AMZN up $2
market is flat
those aforementioned stocks cannot go up like that everyday, the math says watch out, momentum to turn soon
Sold 551P .78 back down at Da Pivot !
Ridin 551P .32----shorted R1 at SPX at 5548 !
HURRY....HURRY......BARGAIN PRICES IN TECK LAND !!!
AAPL, PE 35.....MSFT, PE 45........AMZN, PE 90........HURRY
SPY Technical Analysis:
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Welcome to the SPY Technical Analysis board. We are a community of options traders focused on using the art of Technical Analysis to predict price movement of the SPY ETF.
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2. If you use proprietary technical indicators, you are welcome here but if you talk about how you used a specific indicator in a specific way, you must share with us basic details of how it works.
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