Macro picture its a bullish setup unless proven otherwise on a ~210 support (200dma) break. > 235 confirms breakout $RTY_F $AMC $CROX $SPY $ES_F $QQQ $NQ_F $VIX $TLT $TNX $DXY #Stocks #Trading
I see IWM dropping from this zone and possibly filling gap below.
A strong dip and rebound at the strong support line for Russell 200 small caps etf at $211, price actions shows positive bounce to potential $224. At least 4/5 rebounds happened at this demand support zone. However make sure that it doesn't break the strong support at $211. Or else upside is bound to happened.
SUMMARY - This is in addition to 4-F (S&P500). BACKGROUND - Please read 4-F, link here: DETAILS - This is essentially same situation as S&P 500, only except there is little doubt here.
... for a 1.37 credit. Comments: With this contract at greater than 50% max, rolling down and out for a realized gain of what I put it on for (2.01) (See Post Below) minus its current value (.79) or 1.22 ($122) credit. Going with the expiry nearest 45 days until expiry/16 delta strike. Total credits collected of 2.10 + 1.37 = 3.47. Were I not to have been able...
Good morning, folks, and happy Friday! Welcome to Opex; let's get right into our analysis. It was another shakey overnight session with Asian stocks leading global futures lower after China said it would pass a strict privacy law by Nov 1st, directly affecting tech and ecommerce companies and their collection and use of certain types of data from their customers....
The Russell 2000 ($IWM) is once again back to this 210 band of prior support. We've seen buyers step in around this this level about half a dozen times this year. We're also closing below the lower Bollinger Band. The million dollar question: Is this time different? Place your bets!
MFI heading towards overbought quickly, if there's one index I'm bearish on it's small caps. I think there's a possibility of another leg down next week.
Good morning, folks! It was a relatively quiet overnight session with futures drifting sideways and trading essentially flat as we approach the open. As of 8:45AM the Dow is down -0.20% to 35,187, the S&P is down -0.11% to 4,438.75, the Russell is up 0.11% to 2,176.90, and the Nasdaq is down -0.3% to 14,989.75. Traders will be keeping a close eye on today's Fed...
Long Put IWM Oct15 222P for 8.24 debit (short position) 1.5 R/R for inner range move, 3.5 R/R for outer range move
Vix continues to trend higher. We're sitting at a 17 handle and based on the stochastic we may be about to take another leg higher after the recent pull back from 25. I can't believe risk protection is so cheap right now, it's insane. Yet most market participants don't think they need it. One thing I know for certain is large traders have been accumulating risk...
The Dollar (DXY) is on a tear today. We're up over .50% on the day and we look poised to retest the wedge as resistance once again. Will we see a breakout here, finally? That would only mean one thing, folks, risk sells off heavily. Let's see how the week shapes up with the Fed minutes tomorrow potentially revealing a taper schedule to begin as early as October...
RTY is oversold but it's also the one index that seems to linger there for a while. See highlighted example. We'll see if it bounces or not....
With another massive earnings beat, the market continues to find value in this name that was getting beaten up long before COVID. Should be interesting to see if CPRI can continue to impress into holiday season and beyond. Q2 2021 Highlights Revenue increased 178%, with better than anticipated results across all three luxury houses Adjusted gross margin...
IWM cant seem to make it back to all time highs like the major indices. Potential bearish wedge formation set up. Usually there is an attempt higher that if fails causes dip to wedge support. My best guess and view is that IWM tries to rise and fails and then dips to support. Disclaimer: I know nothing and cannot predict the future, listening to me will lose...
.. 201 Short Put for a 1.27 credit. Comments: I originally opened this for 2.02. (See Post Below). With only .68 left in it (>50% max), I'm rolling it down and out to the 16 delta strike in expiry nearest 45 days until expiry to reduce risk a smidge relative to where the underlying is currently trading. I'm opting to do this versus adding additional units,...
... for a .25 debit. Comments: Plain Jane profit taking here with 14 days to go. In for 1.72 (See Post Below), out for .25 here; 1.47 ($147) profit.
Indicators in the middle, no idea which way this goes Something to keep in mind.... last August, every index rallied except small caps. It just went sideways, same can happen here.