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Only way to do it imo.
Agree that downside is likely in the near term. But that wasn't a doji on Friday, not close. More of a dark cloud cover. And I would not advise going 1-3 months out, in either direction, in this current market condition. We're trading in a range right now and it hasn't tipped it's hat which way it's heading... beyond a few days out. I'm looking for intraday, intra week moves.
We are headed higher here intraday. A bit oversold and need a little consolidation. Be patient. Pick your spots.
I have no position at the moment. Scalped some calls from 205.20 to 205.50, but that's it. Will post entries from now on.
If we see anywhere in the 206-206.25 range, that is the ideal area to get puts. That's my top for the day.
You're welcome :) I'll be posting some more tonight. I just realized that people that don't have stock charts premium can't see my annotations, so I'll have to figure something else out.
$SPY 60min annotated chart http://stks.co/s1R1x . Note all of the highlighted areas. RSI, MACD, Stochastics, gaps. Notice anything?
$SPY 60min annotated chart http://stks.co/s1R1x . Note all of the highlighted areas. RSI, MACD, Stochastics, gaps. Notice anything?
#186 for ya. hit me back.
Not this week. Thursday had a doji, confirmed by a bearish engulfing on Friday. imo the top is for the short term.
Probabilities favor more downside.
See chart> http://stks.co/i1iFu
$YHOO 42 magnet. Close below 42 brings 40.50 quickly for that gap fill. Close below that, watch out below.
Of course it did. AAPL I believe has the biggest mkt cap in the SPY, so it impacts the SPY more than any other company in the SPY. But keep in mind, it can't single handedly bring the market up or down.
Also, oil has little correlation with equities.
Like you said, could not close above resistance. So, probabilities would favor further downside on that failed breakout attempt on Friday.
thetradinganalyst@gmail
Stockcharts.com premium. Give me a follow if you want. I'll be posting charts every day.
You're welcome :)
bullish engulfing and bounce off support. Short term I see higher, but this is a rising wedge, which typically is bearish, but you need to wait until it breaks below the trendline below in order to confrim. A break below that TL would see a big move to the downside, given the size of this pattern.
See chart: http://stockcharts.com/h-sc/ui?s=VXX&p=D&yr=0&mn=8&dy=0&id=p25908956596&a=388711523
$AEP broke up TL, but has another one, along with nice support at 59. See chart: http://stks.co/p1RQQ
$ADHD possible cup and handle forming. Can get in now or wait for a break of 8 for better confirmation. See chart: http://stks.co/f1iS7
$ACT bounced perfectly off of green TL and 50sma. High probability it sees higher in the near term. see chart: http://stks.co/b1dz9
$ACHN loses this green TL and the 50. Look for further downside. see chart: http://stks.co/r1RCU
$AAL broke this TL, along with the 50. Close below 48 should bring 44 in the near term. See chart: http://stks.co/b1dyb
Keep in mind that a breakaway gap that's filled negates the bullish factor of the breakaway gap and would be considered bearish with that gap filling.
Now would be a good probability entry w/ a stop as a close below the gap fill.
See chart: http://stks.co/f1iRQ
$AA broke out of this large symmetrical triangle, which is usually followed by a big move.
$GOOGL see chart w notes. Wait for entry signal based on the reaction to this triangle. http://stks.co/q1R7Q
$GOOGL see chart w notes. Wait for entry signal based on the reaction to this triangle. http://stks.co/q1R7Q
Thanks :)
I trade weekly options, mostly on the $SPY, so we should get along just fine.
Thanks. #990 for you.
I think the key here is that you can already purchase BABA separately. No point in YHOO doing it for you.
Then again, retail buyers aren't really who moves stocks, are they ;)
With earnings coming up, don't forget that this could play a big part in the reaction from retail buyers.
Something to definitely keep an eye on.
The correlation between PCLN and EXPE is strong.
Just thinking out loud here :)
But of course, as a trader, you have to ignore such thoughts.