Spx: Another Bearish IdeaDoubtful that this is one large Bullish pennant. More likely it has broken into a descending channel.
SPXL trade ideas
SPXL_higher_lowershould find a push up into Feb - Mar 2019, than recede significantly. Let's see if it hits my target boxes.
Should Have Followed the plan!So after 3 days of losses in a row I was timid on a trade. I was fully confident it would work out. Lets be real; We are in a downtrend.
I made my plan, checked it twice and just didn't take the trade.
Missed out on a big one!
+16%
RSI and Mrrey's Linde strategy systemExperimental strategy based on breakout RSI's support and resistance lines.
Stock Trade Plan - 07 November 2018
The trade idea for today is an ETF with ticker symbol SPXL that trades the S&P 500 3x, it is a leverage S&P 500 a 3x version of SPY. It can be compared to SPY.
This is a straight bullish trade;
Entry is at $48
Stop is at $46
Target is at $55
The risk reward is a ratio of 7:2, which is a great reward risk ratio. You can trade options for December 2018 in the money with open interest at $45 (4.60/$5).
Let me know what you think about it in the comment box below
Big movement ahead on SPXLBull flag vs RSI correction
RSI suggests market correection for tomorrow and next week camdlesticks based on oct 03,09,117 situations. Purple vertical lines shows historic path itself.
Bull Flag
Background: 12 d 5h for -16.23% down
Stick: 20h for +8% up
Flag: 1d 6h +3.39% up
However, there is a huge resistance at 45 price level, so we can expectate another selling wing/breath to break through 50 level
SPY SPXL FEB CRASH REVISITS&P is losing strength and after a soon bull retrace of about 15% or less, the bears will retake control. RSI is now contained and needs to reach 30.
SPXL - Let's see how big this bounce or V-shape recovery isWe are at a market crossroads testing 200 DMA support across a number of big names that makes up the SPX. I'm long here with a stop loss and the stop loss will be more than just this short term SPXL trade...
Long Short term - will decide longer term depending on bounce (or not)
SPXL - Go long, fears overblown. Trade wars fears, inflation, flat yield curve, slower global growth, the Fed hawkishness, etc. are all overblown.
Here's the facts:
"From 1933 to 2016, the average return for the S&P 500 Index when Republicans held the presidency, House and Senate for the one year after midterms was 15.1%. When Democrats have been in complete control, the increase averaged 9.3%."
Many analysts (including myself) believe that Trump is going to scale back tariff talks before mid-terms in November. This will allow markets to reach new highs. Despite what I hear from many analyst here, it's Trump keeping this market from hitting new highs, and it will be his policy stance that will allow us to break through this consolidation period.
Don't get me wrong, the Fed, inflation, the yield curve, etc. will be concerns, just not much in 2018 (likely 2019 as well).
Proprietary models that I follow suggest that S&P 500 will reach ATHs this year - see red line.
SPXL or UPRO (3x leveraged index funds) are one of the best ways to play this rally.
I'd be a buyer on dips.
Cheers!
Earning season has come and that will lead to a huge rallySPXL has had some problems the last few months but I think that will change. The market has begun to level off and with earning seasons I feel a run will start. Hopefully Apple will also begin to buy back in force and also push the market higher.
New TargetThis is an update to my last post. There was a double bottom, and now we are getting a possibility for retracing to January.
