And I'm being generous here.. I wouldn't be surprised to see 390.. I don't know if that last 30min was repositioning. Earlier I posted that Vix was dropping back below 50sma and 21ema but towards the end of the day Vix reclaimed both and has now formed a bullish wedge On the hourly ...
It all started with spy getting rejected at its WEEKLY 50SMA around 399.15.
I could sit here and say that QQQ is still holding its 200sma or that Dow and NYSE are holding above their weekly 50 but to my ears that sounds like "The kitchen is on fire but the house isn't yet".. Selling volume also spiked on the daily. March is usually bearish!.
I covered on Googl and spy calls towards the high. The spy calls I basically broke even, but I made a nice piece off Googl..
Currently I'm short X ... 29.5P 3/10
Stop loss 31
If we can't reclaim 50sma tomorrow things will get nasty.
Targets/Supports below
393
390
Below 390
387
380
When is it safe to try calls , I'd wait for a leg over 400 [Weekly 50) at this point.
XLV has dragged the most this week, If they close the gap and bounce we may see some life from the spy..
XLK is on Life support above 135
If it drops below 135 apple and msft will fall fast.
DIA which is basically etf for the dow jones is now oversold on the Daily money flow. I see a big rally coming for the dow in next week or so.
Also look at your 1hour 50 and 200; they death crossed yesterday. Now look at the last 3x that has happened and what the spy did
It all started with spy getting rejected at its WEEKLY 50SMA around 399.15.
I could sit here and say that QQQ is still holding its 200sma or that Dow and NYSE are holding above their weekly 50 but to my ears that sounds like "The kitchen is on fire but the house isn't yet".. Selling volume also spiked on the daily. March is usually bearish!.
I covered on Googl and spy calls towards the high. The spy calls I basically broke even, but I made a nice piece off Googl..
Currently I'm short X ... 29.5P 3/10
Stop loss 31
If we can't reclaim 50sma tomorrow things will get nasty.
Targets/Supports below
393
390
Below 390
387
380
When is it safe to try calls , I'd wait for a leg over 400 [Weekly 50) at this point.
XLV has dragged the most this week, If they close the gap and bounce we may see some life from the spy..
XLK is on Life support above 135
If it drops below 135 apple and msft will fall fast.
DIA which is basically etf for the dow jones is now oversold on the Daily money flow. I see a big rally coming for the dow in next week or so.
Also look at your 1hour 50 and 200; they death crossed yesterday. Now look at the last 3x that has happened and what the spy did
Kommentar:
Oversold here.. expecting an intra day bounce to retest 50sma
