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I really, really hate expiry weeks. Sure yesterday was amazing as was the tank today, but now back to stuck in underwaters and absolutely no retraces to get out.
It was all looking good just now and then bang out of the blue, the WCB appear and now absolutely nothing again, dead as a dodo.
So over to tomorrow now.
Plan your trade, trade your plan!
The Florida number of cases and hospitalisations is out of control currently. Yet they are not bothered whatsoever.
On a down day, it would have been the reason for it going down.
Plan your trade, trade your plan!
well down to the winners today
i found a nice stock in twitter copy of twit below
<span class=”r-18u37iz”>$UONE</span><span class=”css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0″> from $1.5 to $34 In FIVE f*cking days This has got to be the biggest short-term runner in my life.. from 68m market cap to 1.5 billion… in 5 days Chart says it all</span>
party like i 1999 allover again
NYA: the NYSE chart has been the most reliable, as I’ve mentioned several times.
I haven’t changed my view that ‘something is wrong’ with the recent peak because it fell in between the two targets at C=0.618 and C=A. Of course it doesn’t have to be perfect.
So until something happens to say otherwise I’m still projecting a higher high probably via a rising wedge (see chart).
The sharp drop of recent days overlapped ‘wave A’ and can be considered a completed larger B wave (in which case we are now in big C up, or a continuing sideways B). I suspect that isn’t right as SPX didn’t overlap and NDX remains strong.
So I think we’ve seen waves a, b up of a rising wedge thing that will try for the C=A at 13,450, or even the gap fill at 13,972.
Note the strength of the 21 day MA support.
Also note the recent highs in the RSI and MACD, both of which suggest a higher high with divergence is needed before one can be sure of a lasting top.
Timing wise there is a ‘pulse’ in the early hours of wednesday
for the US futures circa 2am UK time … exact time I have
not bothered to research but it’s there.A failure or inversion … either way a chink of light for bears.
Never give up, never surrender.
Quad witch muddies the water but next week my indicators
show the bulls are preparing to charge.Never give up, never surrender.
I really, really hate expiry weeks. Sure yesterday was amazing as was the tank today, but now back to stuck in underwaters and absolutely no retraces to get out. It was all looking good just now and then bang out of the blue, the WCB appear and now absolutely nothing again, dead as a dodo. So over to tomorrow now.
I have deliberately forced myself not to trade unless I see an overbought extreme.Unfortunately missed that spike into 3168 yesterday as I was driving. Quad OE can be volatile but I have not witnessed 100- 200 spx point moves up and down in the days leading to it in recent years so anything could happen.
I would have normally bought some call options on a drop like we witnessed last Thursday but I didn’t as I lost money on calls purchased during the Feb- March drop.
I have purchased July Vix at 33.90 just in case something happens to the downside.
One thing is for certain any small piece of irrelevant news can be perceived as good.
Just imaging what could happen if it is announced that the 2meter social distancing rule becomes 1 meter then zero. 2 week quarantine on holidays no longer applicable , vaccine nearly ready etc etc…
There would be a massive hurrah and a good reason for the FTSE to rise as the oil stocks, travel, leisure areas ……..would take off.
well down to the winners today i found a nice stock in twitter copy of twit below <span class=”r-18u37iz”>$UONE</span><span class=”css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0″> from $1.5 to $34 In FIVE f*cking days This has got to be the biggest short-term runner in my life.. from 68m market cap to 1.5 billion… in 5 days Chart says it all</span> party like i 1999 allover again
Wow, but exactly, I am so amazed it is giving the dipsters a let out everytime.
I see again the low was early morning (when we were all asleep) and now ES is 30 points higher.
Now we probably have to watch a whole day of SU or SU grind.
Plan your trade, trade your plan!
One thing is for certain any small piece of irrelevant news can be perceived as good. Just imaging what could happen if it is announced that the 2meter social distancing rule becomes 1 meter then zero. 2 week quarantine on holidays no longer applicable , vaccine nearly ready etc etc… There would be a massive hurrah and a good reason for the FTSE to rise as the oil stocks, travel, leisure areas ……..would take off.
Totally agree.
However they are just ignoring the news that worldwide cases are still increasing.
SOmes areas of the USA are really going out of control.
India is out of control.
China has a second wave.
I totally agree though they are in complete ignore mode for now though.
Plan your trade, trade your plan!
ES just looked like it wanted to try for down again and just then it got a 10 point WCB.
It is all about OE this week and the original idea posted and thought by all of us of a dip into last week and then up into OE was spot on.
Plan your trade, trade your plan!
Spx 3075 … would be a good result for option writers
based on someone elses data and ideas.Wow that requires a steep drop before friday.
Take that with a pinch of salt.
Never give up, never surrender.
I have a small short Ftse at 6300 and I am relaxed
about holding through quad witch. Details are …Small short Ftse at 6300 … stop 7300 … limit 5300
Next week it’s possible we rally to 6500 / 6600 but I will
plan for that after quad witch.Never give up, never surrender.
Todays gap already filled.
I want to see action today and go back to trading time and price and especially when they match.
Will update if I see something.
Plan your trade, trade your plan!
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