Thanks for your input, Will, it’s always welcome. It’ll be interesting to see how it plays out. Anyway, if I trade at all next week – I plan to stick with my day trades. Thanks again!
JCrusadr
⋅
You think it will open higher this Tuesday at the open?
Michael.Larkin
⋅
I honestly don't know. There's resistance at the 201.85 level, so it could go either way.
AWDConservative
⋅
I see it as retesting The trend line acting as resistance, With that being said I have to say that we could be getting ready to go bearish next week - For this to hold water I would expect Tuesday to end as a spinning top type of candle. If that happens and we reverse Wednesday or Thursday - Watch out as that would complete the H&S Pattern on the Daily Chart and the Double Top on a Weekly - Just my two cents I will shut up now :)
JCrusadr
⋅
There's an upward momentum though.
Michael.Larkin
⋅
You’re right! At the time I placed the trade, I was hoping for a continued move downward since I was essentially in a short position with the ten puts, but it gapped-up and I was stopped out at the open the very next morning. Thanks for the comment!