Based on previous price moves, these selling waves last from 3-5 days sessions. Yield inversion has tanked techs, selloff could intensify. (overlay from 2-5 Mar) BUT; If this holds, expect a smallish bounce 19 Mar, more selling on 22 and pivot to long entry on 23/24, as it did last year on those dates.
NOT investing advice; trade at your own risk! GLTA!!
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Fills in the overlay... would not long this yet... all risk
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Strong resistance overhead at 3925 SPx (former support at 3940 turns resistant) and 13250 Composite. Has tested 3x intraday Friday. Watch for the action in Power Hour...
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Looks weak EOD, power hour aint got none... gonna take a bear spread on QQQ see if it gaps down Monday, GLTA!
PS Usual strat of buy expiring calls in last hour on Fridays looks like a losing prop today IMO, not gonna try it.
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Opoen Bear Spread long 5 Apr 09 312.5P short 5 Mar 26 302.5P net debit 3k; will find out if this was a good idea Monday mornin, lol. Good wknd peeps!
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Added 3 more spreads on the weak EOD lift, usually a good place to short...
Better bounce, lol, closed out the bear spreads in open. Watch, wait.
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Would not chase this IMO rally is not broad-based, small caps declining today while this runs up; a bear retracement.
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WARNING: FALLING WEDGE IN NQ INTRADAY; DO NOT SHORT AGAIN! CLOSE SHORTS AND GO CASH OVERNIGHT, LOOK FOR EOD SHORT-COVERING RALLY IF IT DOESNT COME YOU LOSE NOTHING, THE FALLING WEDGE IN QQQ IS BULLISH! SELLING MAY COME TO END SOON IMO.
Trade fechado manualmente
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ALL POSITIONS CLOSED NICE GAINS IN THE QQQ AND SPY PUTS TODAY! SOME CONTRACTS +150%
@The_Unwind, ty guruguy, I got lucky, again. goin down hard now imo
hungry_hippo
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Love this one... MFI is oversold but RSI isn't and I think it needs one more down day before the pattern is complete. Big factor is that AAPL looks weak.
At this point, I think buying calls Monday afternoon or Tuesday morning is the way to go. I get teh feeling that today is a headfake bounce because it's Friday. Staying all cash until next week.
DaddySawbucks
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@hungry_hippo, made nice bit from am bounce, now watch & wait IMo
DaddySawbucks
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@hungry_hippo, spy so weak no happy eod spike, just fail, imo we got a tank coming. only eod spike was $1 on IWM ffs