SPX weird bottoming pattern forming? Make it or break it.

SPX is starting to make a bottoming formation similar to what happened a few weeksago (areas circled - hitting this short term thick green uptrend line). I am still biased very negative but am starting to leg into put spreads against my long put positions. with volatility high there are soem great premiums to suck in while limiting loss from upside.

We could spend a few days hanging aroudn the 50 day moving average, but i think there is now a very good chance we are going to find the 200 day moving average, probably before the end of the year - (This would put us around ~~ 4300)

I would not be entering new SPY/SPX/NDX/QQQ short positions here, but if you have been trading with me on these, selling slightly out of the money short term positions seems like a good strategy here.

Select names will continue to be under pressure - ASAN, NET, SNOW, ZS, TTD, PAYC, and other high p/s names.

Comment:

just want again to highlight i think there is possible further downside I am simply suggesting thta if you are short on indexes, you consider selling short term out of the money puts against those positions.

For select companies, the screen I use to identify them is this: finviz.com/screener.ashx?v=121&...

Comment:

apparently that link isnt working right. I have copied into a google sheet you can view here: docs.google.com/spre...q2HzmWD3_f0aih0/edit