Looking at long term support / resistance level + bounce off 200 day MA + buy signal on Stoch
bumping up from channel
Documenting a trade -
900 / 920 Debit Call Spread bought for ~$6 around $860 with ~2 mo to exp
Hitting res level
Hitting resistance at the 20 day MA and at the marked support turned resistance line.
Just looking at the technical indicators
SPY Seems to be at the bottom of its channel- If it can continue to be bullish then VXX will tank like it has in the past
End of the bull run?
Able to push above the 50 Day MA
hit off resistance and 50Day MA
Neg div on RSI
If we have a neutral to positive day in the indexes we will see VXX plunge like yesterday. If not it will settle down in the next week or so.
Is this finally a breakout from the downward channel since earnings? KORS was not able to break above its 50dayMA (which was also the long term level as noted) today. I am short with ATM puts.