Today we got the pullback into the buy zone and I flipped (sold) the puts for a profit. Then at the same time I bought calls. At this point SPY may be making a new small Gartley Pattern shown in red. If this happens, I'll buy another batch of calls. I'm still looking at the bigger bullish trade up to the 274.50 sell zone area this week. As the old TV game show "The price is Right"
the host Monty Hall used to say "Come on Down!"
This would give us a small b wave pullback in the larger c wave up. That would complete wave 2 in a bigger bearish market. So we are counter trend trading this for a few days.
the host Monty Hall used to say "Come on Down!"
This would give us a small b wave pullback in the larger c wave up. That would complete wave 2 in a bigger bearish market. So we are counter trend trading this for a few days.