Zkalish
Short

Short SPY of the Blue Trend line if Monthly Doji Materializes

AMEX:SPY   SPDR S&P 500 ETF
a year ago
We've seen SPY             reject the blue line three prior times on the monthly chart. Though the reject already happened on the weekly chart in early November. But, now, if S{Y closes below 208.50 on Monday, then the monthly candle is a doji. I'm more than willing to short it to hell (also known as 199 if 206 breaks).

Note I'm not telling you what to do, but I intend to buy 206 or 206.5 December monthly puts on Monday or Tuesday next week. Again, that's only me saying what I intend to do.

If the Doji materializes,its a short. Mind you, it may test the top of the line first, which is approximately 211.30. No matter what, the market should fall from these levels before EoY
a year ago
Comment: Should say "off" trend line in the idea title.
a year ago
Trade closed: target reached
kevinmick
a year ago
This was an excellent call on your part
Reply
Zkalish PRO kevinmick
a year ago
Thanks. Just reading the chart.
Reply
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