Head and shoulders pattern is consolidating, if it does not bounce on the resistance level we may assist to a huge drop to ~0.55$
USB hit a Weekly + Daily resistance today at 40.85 where I took September 40 Puts. Implied Volatility was cheap so I went with Singles. Also later this morning there was unusual Put volume that came across the scanner but I had already taken the trade near the open. Market Sentiment I find myself net short Financials going into this earnings season. That is...
Every single RSI high pivot matches up. It's remarkable. Just wait for the RSI to move a little bit higher until it hits resistance, and then short.
CNBC has loved to refer the recent pullback in the SPX as the "Dimon Bottom" because CEO Jamie Dimon purchased roughly $26 million worth of JPM shares. However, it's not looking for those wanting to hold to believe in the recovery dream. Whether investors want to believe it or not, the U.S. economic cycle is rolling over; and, considering the very high...