QQQ swing puts - bearish sentiment going into April
Notes for trade idea:
>Price could be a double top in resistance zone
>Cloud resistance overhead
>RSI under 60 still, despite strong rally - shows underlying weakness
>Stochastic %K has been over 80 and should soon cross below %D (on a down day) - %K will usually dip below %D and then rise again, and this may happen a few times before %D moves below 80 (more downside)
>14April expiry has much more put volume. Huge volume today at 340 strike
Notes for time:
>Price may still chop before turning down
>March end quarterly fund rebalancing may knock down markets
>In current conditions I prefer day trades or swings that use less capital and have more time (than my usual)
Bought 14April 345 put near high of day.
>Price could be a double top in resistance zone
>Cloud resistance overhead
>RSI under 60 still, despite strong rally - shows underlying weakness
>Stochastic %K has been over 80 and should soon cross below %D (on a down day) - %K will usually dip below %D and then rise again, and this may happen a few times before %D moves below 80 (more downside)
>14April expiry has much more put volume. Huge volume today at 340 strike
Notes for time:
>Price may still chop before turning down
>March end quarterly fund rebalancing may knock down markets
>In current conditions I prefer day trades or swings that use less capital and have more time (than my usual)
Bought 14April 345 put near high of day.