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its a doji as of now...
maybe gravestone too?
or sheep?
Gordon Gekko: Ever wonder why fund managers can't beat the spy? 'Cause they're sheep, and sheep get slaughtered. :P
this run looks like its trying to mimic yesterday bounce but volume is not the same. Could be bull trap here.
This is similar to last week now after run up bolli band got supper tight ran sideways line and tanked.
Still cant say 100% direction though. Its weak but we all now that can change. Just be nimble here.
Dam this thing took off like a rocket. Very nice
Its about to make a move whomever comes to play will determine the way. BB is supper tight on 10 min.
5 min adx isnt very convincing though seems weak. 198 line needs to hold or it blows my chances of cheaper puts out the window.
lol no calls unless i see it break above the hod now. Just started small line of puts on the spikes. If they go really overbought which can be monday i will load up.
good catch ill be watching vix too.
without a doubt we can always get corp buy backs here send this thing parabolic.
Massive buying wave now would be good for bulls. They have to much to lose if it tanks like last friday. Im hoping they bury this thing into overbought as you can tell..
Thinking little higher imiloa holding support well
Thats right stand corrected. i was looking at earlier today it bounced. Yesterday was 195.20
These fed comments are such a joke. Ones is like yeahhhh the other noooo
Yup got the same support and bounced here yesterday.
exactly last fri has retail shook and maybe a hedge or two as well.
I dont have to many chips in yet i dont want to underestimate still a little room to go up but it appears weak so i want to start small.
Most of spy underlying are overbought already on ss maybe few more points north stalling at the 10 day MA on daily at the moment.
started my put position sep11 198.50 @3.69 not doing todays exp got burned last time i tried that.. Have a good weekend SPY traders!
Lol too funny
Monday was beast hands down best day for me all year. there will be other setups soon. VIX pls stay high forever haha
Yeah vix like i said is technical train wreck always breaking rules lol. Im still in cash waiting for the stochs to peg overbought for swing trade. i missed the boat on calls so i have no problem waiting few more days or till next week.
Agree 100% i know the vix is a technical train wreck but it did have golden cross this week. Just another week till s&p follows dow with 50/200X
There going to stretch it far into overbought so timing puts entry is key imo
WoW did they ever, should be close to overbought on daily soon, One last push loading zone for puts IMO> next week plunge
Think the House is loading cheap for a push to overbought tomorrow. And people are still nervous.
Doji with bearish engulfing on 60 min now
Volumes back
fwiw the 60 min chart is putting in a doji. this run up quick has been breath-taken. PPT finest at work
Good job risk commend your tolerance while enduring losses bounce backs are sweet victory.
Its def not the end all perfect indicator esp on smaller fractals,
I was basing the price target/ direction on weekly its pretty consistent as you can see i marked out on the chart. But i understand what your saying just happen to be right on this one this time.
def really oversold at the moment will see what action it takes when its back in the channel.
are you playing in the money?
EIA Petroleum Status Report
[djStar]10:30 AM ET
SS on daily is pointing up as well as FS leaving oversold. Def good to have caution for puts.
7:45 AM ET 8/26/2015
The following are the pivot points for SPY. Pivot High: $191.360, Pivot Low: $182.830. These were calculated using the DeMark method. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.
Although it can be lucrative to hold overnight if your on the right side. i have to agree there are enough intraday swings to keep us all well fed.
good "Call" im going to wait at least till 11AM to take a trade this can easily get out of hand either way imo,
Most definitely appreciate your view, thanks for your response. think we all can make out pretty well with this volatility. Stay nimble Friends
This is excellant. Traders that were brave to hold calls last night can have huge gains and switch over to puts for cheap. Wash rinse repeat. Im smelling the desperation.
You asking this makes me feel more confident in what i found in the chart i posted earlier this week with the bolliband snapping. That didn't occur in oct crash/rally.
I seriously think a hard plunge is coming. Worse then monday. Think that bounce would have been today. . But shorts were at the bar and didnt care. Says something huge is coming.
I dont know specifically when and Im hoping the bounce happens to be honest so i can grab cheap puts.
But all is changed if fed steps in. Could be pop your expecting. If there hands off think bear market is ushered in.
Will just follow commodities and transports down the plunge they have been signaling for sometime.
That would have been today if it was going down. Shorts didnt even flinch they shrugged off that "orchestrated" premarket +4 % nonsense. That speaks very loudly. On the other hand relief is needed, Get this pig back up some how (fed intervention) needed.
Everything is fine just keep adding money to your 401K no problem here.