SPDR S&P 500_FIB. LEVEL PLAYGROUND
Beautiful trading levels within the Fib. levels are observed from Monday's low and Tuesday's high.
SPY opened lower today and found support at the 1.618 level of the retracement. Price action at the moment is going back up to close the gap as expected. However, there stands the 20EMA as resistance. At this point, SPY bulls would want to close above the 20EMA otherwise, the price is going to be pushed back down by the bears.
Successful option play: $390 Put 11/18 bought @ $396 before Wednesday close and sold Thursday opening.
My next move is to watch how Friday opens to determine SPY's direction.
SPY opened lower today and found support at the 1.618 level of the retracement. Price action at the moment is going back up to close the gap as expected. However, there stands the 20EMA as resistance. At this point, SPY bulls would want to close above the 20EMA otherwise, the price is going to be pushed back down by the bears.
Successful option play: $390 Put 11/18 bought @ $396 before Wednesday close and sold Thursday opening.
My next move is to watch how Friday opens to determine SPY's direction.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.