sfhenderson17

$SPY just keeps on going...

AMEX:SPY   SPDR S&P 500 ETF TRUST
One more day to finish this weekly chart, give me $410 tomorrow, then perhaps we consolidate into next week...

Comments

Definitely a big burn to my analysis and put positions... but in hindsight it seems like fib extension targets sit around 410-415 so let’s see what tomorrow brings!
+1 Reply
@youssefgg draw your trendlines. They to take you to 410/412 as well as a crazy rsi as well as a channel
+2 Reply
sfhenderson17 youssefgg
@youssefgg, Yep, I only use SPY as a hedge against individual stock long positions and not a specific play against the market. Just to cover my butt if the market does tank. Yesterday I bought SHOP calls, and some end of week SPY puts. Close SHOP for a nice gain and spy puts for a loss, net up big. Then before end of day I grabbed another SHOP call, and next week SPY puts. We'll see if it works again...
+1 Reply
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