XSP on the 4H, price action reacted off the 9SMA and support trend line with the MACD getting a confirming positive cross over by EOD. Along with news that a budget deal was reached, the SP is poised to punch through a resistance area that showed rejections the over the past two weeks.
Just sharing what I see...could go up, could go down. Couple of things to be aware of...RSI is saying overbought, MACD looks like it's peaking, we have a falling wedge still playing out from 2022, and a double top forming. There's a gap up from around Nov 17th. Some pretty squished candles on Wed/Friday (Thanksgiving or declining momentum?). Finally, Powell is...
Good morning, probably, where you are. So it appears that charts have patterns. And those patterns mimic ones found from other sources. Such as this image by an artist known as "Kadey", that has been floating around Reddit. These patterns line up because charts are part of existence, and they follow the same rules as existence, such as the bell curve, Fibonacci...
Yonder Testing a lil short. We shall see if these fib levels hold.
20+ day breakout, short term target of $412 to $432 range.
At least now we're going to touch the upper side of the bull flag for now.
Watch out for the breakage of the support line of the bullish channel. probable potential triangle space.
U.S. Earnings June 29 - July 03 Buying Options with Unlimited Profit Capped Risk: OTM Long Call, Long Put, Strangle PAYX, SHLM, APOL, CAG, GBX, SCHN, AYI, STZ, GIS Selling Options with Limited Profit Capped/Uncapped Risk: Short Strangle, Short Straddle, Spreads PKE, CAMP, HELI, IRET, UNF, SBLK, ISCA, MKC
U.S. Earnings Week June 22-16 Also included Implied Volatility as of June 13, Saturday, along with 30 Day Average Implied Volatility. Comparing IV with 30 Day IV, can give an option trader an edge when considering which weekly stock earnings to play. OTM Long Call , Long Put or Strangle Plays (based on Current IV compared to 30 day avg) CCL, MU, VIMC,...
Bouncing off 100% Fib level Channel is tightening Did not complete larger channel top touch Interesting week ahead.
U.S. Earnings Week June 15-19 OTM Long Call , Long Put or Strangle Plays (based on Current IV compared to 30 day avg) DRI Collecting premium Selling Options ADBE, BOBE, LZB, ATU, FDX, CLC, JBL, ORCL, KR, RAD, FNSR, RHT, KMX, KBH Implied Volatility vs 30 Day Average Implied Volatility values as of June. 13 June 16 Pre-Market Fact Set...