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OptionsRising

Calls on SPY - low risk

Long
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
OptionsRising Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns Technical Indicators SPDR S&P 500 ETF (SPY) options lowrisk
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trendanalysis chartpattern indicator spy options lowrisk
Read notes on chart please. Also there is bullish divergence between 15min RSI, stochastic peaks and price.
I bought 320 calls for a day trade. You can go further out in time for a swing trade. Risk is low if you buy while SPY is under 320.
Suggested stops: price below 319, below 318.75, and below low of 317.53
Comment:
Selling took price down to 100 SMA on daily chart, 116ish. This is a good area for swing calls.
Comment:
Daily chart is stunning. Glad I had a stop on my calls. Today's candle broke through multiple supports, and RSI went below 33.33. SPY may bounce, but there will be more downside. Is it getting closer to two years after yield curve inversion, when the signal historically comes to fruition? Time to check weekly and monthly charts.
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