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ES on 5 & 15 min looks like forming inverse H&S with roughly 4220 neckline
Even 5% drop in $TNX not helping today, so far. But if the drop continues tomorrow, that may stabilize market?
May be spoke too soon. As soon as submitted message, market reverses. LOL
Jerry, Thanks for that Linda Rashke pdf.
ES: A/D hanging around 0, ticks & VIX subdued. Small movements. Not easy to day-trade day.
Looks like they are trying to kill Quarterly options premium.
VIX below 19 and Feb low.
ES 60 min. 3 dropping point rsi divergence. So, may be some pull back?
SPX Weekly
rsi divergence. Going for rsi 30
https://schrts.co/UtWsXyxP
SPX monthly
rsi divergence
https://schrts.co/hTvHypdg
They had one in January too
Last month they ran market up until CPI date Jan 12 then dumped. What is the plan this CPI Feb 10?
IWM, DIA leader like yesterday
AllTheHype: Futures option note that,
You can trade ES contracts with different expiry, and future options are tied to closest expiry contract
For ES, you need 1 ES option per 1 ES contract and not per 50 ES contracts. Note that ES futures are leveraged product. The 50 multiplier is because for 1 point move in ES contract or ES option, the $ move will be $50/1 point move. So if you buy ES at 4500 and it moves to 4501, you make $50, by the same token if it goes to 4499 you loose $50.
Yes future options typically expires at 4 pm, but I am not sure that applies to all the expiry.
AllTheHype - I have been trading options on futures for over a year using IB. I mainly do deep ITM Covered Calls, or protective puts.
Futures:
1. Can trade anytime futures market is open
2. SPY (1 option/100 shares). Futures (1 option / 1 futures contract)
3. Near money premium are steep
4. Tax advantage. No wash sale rule. MTM at EOY for tax purpose. P/L are treated as 40%ST & 60%LT, even if all of it is short term
I posted the link to jmb015 in Message # 20348.
As soon as A/D went positive, ES exploded up, breaking short term DT line.
jmb015 try this link
https://discord.gg/j8CDWUsP
EOM shenanigan today. So, your schenerio quite possible.
Buy/Write ES, 4300 & 4280 CC for today's expiry, each for 2% gain if ES stays above 4300
OT glad to hear that food is making a big difference. Also breathing method is important
Need hammer with huge volume and capture 200 dma to change direction
You mean 4300?. SPY, ES coiling with large volume here. Will it break up?
Too much cross current this morning. Hard to trade.
AAPL earning tonight and it is currently red. Not a very encouraging sign.
Looks like triangulating above VWAP on 5 min. Need to stay above VWAP.
SPY Charts are screwed up because of intra-day spike down print
OT - Sleep Apnea - James Nestor has several videos on breathing and talks about sleep apnea in this one and other videos.
I bought his book "Breath, The new science of a lost art" by James Nestor. Very fascinating book on the history of breath, evolutionary changes in our breathing structure.
SPY 60M volume. May be getting flush out.
After hour drop starting at 4 pm, probably exaggerated by 20%+ drop in NFLX due to subscriber growth issue. That also hit DIS and other streaming stocks. Is this a harbinger of things to come is the question.
SKEW seems to be saying maybe bottom in?
https://schrts.co/fxqmjsSb
Thanks for $CPC. Looks like will close slightly under 50 day ma. Could jump the creek on Tuesday, depending on what news they weave.
They have already started the news cycle that omicron has already peaked and is falling in several places
What is symbol for Put/Call ratio on TOS?
I am neutral here, as there is always a potential to retest low. Did some futures quick long trade early.
SPY weekly - bounce off of MA20, as last 6 times, so potential for getting to top of weekly BB around 480. But after that what?
There are some conflicting signs.
(1) RSI divergence
(2) Down on large volume, up on lower volume
(3) 2 months of weekly congestion
https://schrts.co/fQTHGIfx
Looks like "h" now on ES & RTY, & turning into "W"
Spoke too soon. Very volatile day.
A/D has exploded up from -ve a good sign for up
SPX - We bounced off daily MA-8 just now. We are above daily MA-20, 50, 100, 200. Until we loose daily MA-50, trend has not changed.
https://schrts.co/IjJASMex
XLF double top or ready for breakout?
https://schrts.co/zjVSHSDK
TNX weekly chart
https://schrts.co/CUJiddiv