Risk on above the bottom TL

285 2 5
$222 is 161.8 Fib extension, coincides with top TL as well.
what's your near term target.. end of month
+2 Reply
JXMFinancial QuantitativeExhaustion
Tough to have a true target month to month. Right now I likes the R/R at 205, Im watching the OIs closely (shown here - http://charts.stocktwits.com/production/original_34059795.png?1426519597). A bunch of 215/220s opened up on Friday. Maybe call spreads, either way looks bullish into FOMC. RSI on SPY reclaimed 50. Im also watch 208.81, we take that out can retest highs. If we break highs, the bullish RSI reversal measured move looks around 218. The 161.8 extension is currently around 222. Also watching the downside. Significant OI in 200-205 but those have been in OI (probably protection). Back below 205 and I flip short. Just managing risk along the road. I dont have a March PT and price changes so often.
+2 Reply
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