A rejection of 2850 results in this

5 thg 5, 2020

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5 thg 5, 2020

Ghi chú

2850 has broken, which is not surprising, we should see 2886 as the top of todays rally then a retest of 2850

5 thg 5, 2020

Giao dịch đang hoạt động

spx has reach 2886. I believe this is the top for the day. Selling calls against all my stonks . Also shorting hog futures /hek20 with a $64 target

5 thg 5, 2020

Ghi chú

So the reason I sell calls here is because we have this ascending resistance line. We are very unlikely to break it (but if we do the bears will be in a world of shit) Being stuck between an ascending resistance line and descending support line is a very ambiguous area that calls for sideways action where the may 8 and 15 calls should all expire worthless.

5 thg 5, 2020

Ghi chú

I believe we'll be going sideways in this channel for a while


A break below will send us to 2600 and a break above will reach new ATH, and I don't think the market is ready for that decision yet.

5 thg 5, 2020

Đóng lệnh: đạt mục tiêu

I've shorted the spy at 289 and covered by selling the 286 may8 put. A breakout into the bull channel will refund some of my loss and if I'm lucky the put will expire worthless while the short profits.

6 thg 5, 2020

Đóng lệnh: đạt mục tiêu

spy 285 reached, now long to 290

6 thg 5, 2020

Ghi chú

short again at 288 with new resistance. I won't close at 285 this time but wait for confirmation of continued downtrend

6 thg 5, 2020

Ghi chú

back at 2850, now watching carefully if we'll go lower or bounce, a bounce should break the new resistance and go back to 2900

6 thg 5, 2020

Ghi chú

looks like a clean bounce. next target 2900 range.

7 thg 5, 2020

Ghi chú

We formed a scam wick below 2850 which I probably would have stopped loss on but I slept through it. We'll be making the 4th test of this RSI line at 2860 and should definitely break it this time followed by a target of 2930.

7 thg 5, 2020

Ghi chú

our scam wick has opened a new bull channel

next swing targets are 2930 to 2880

8 thg 5, 2020

Giao dịch đang hoạt động

target generally reached, took profit and went short at 291.58 though it could continue to 293, i had too much profit to sit on, next target is bottom of the channel, roughly 286 or 288 depending how long it takes.

8 thg 5, 2020

Ghi chú

but if we don't sexily touch the top of the channel, i'll take small profit on this short and re-long somewhere in the middle of the channel, the extra time spent will push the high target up to 294.