Replies to post #150959 on SPDR S&P 500 (SPY)

[ced70]

i know theres a lot of people shorting next week but i agree monday is the potential sideways day. the macd on the 4 hour needs to top and the daily needs to reverse short of the center line. the strong close friday makes me wonder whether shorting next week is the answer. IBB is actually back in the bull flag.

[imiloa]

if monday chop, we'll still get some peaks and valleys,
so cheaper puts and cheaper call hedges.

re: can rally hard if no rate rise,

i'm assuming this as well.
i feel the rate hike is partially priced in
at the percentage of people who believe it will happen.
being less than 100% of all traders,
but significant.
so if they all suddenly find cause for newfound optimism,
the chart will reflect it.

at this point, i'm personally expecting the fed to wait until the last minute
and decide based on the market recovery progress.

and if they can cogently justify kicking the can one more time,
i expect they will do so.

depending on how the markets evolve next few weeks
i'll be considering sept 18 calls
when the time approaches.

we'll see...