Price Action Precision on the SPX is unfolding right before our eyes.
Gotta Love how structured this market is.
The important Line/Zone is 3225 to 3200.
If that level is breached I would say the bears will have full control.
If the bulls can hold this line/zone then its back
to the races with 3500 as the first bounce target.
Opening a Short Trade on TSLA prior to earnings announcement. Overall Trend is very bullish however, I feel TSLA needs a healthy pullback in the short term.
I am opening both TSLA Puts and TSLA Call Credit Spreads. Buying Feb 20 500 Puts and Selling the Feb 20 500/502.50 CCS at 2.20
Triple Top on Weekly Chart!
If this breakouts with any strength this should be a very nice trade.
Wait for breakout, then buy the retest of the breakout level.
Overall 1st Target will be 180 zone
Overall 2nd Target will be 200 zone
Current Market sentiment is still bullish.... the recent retracement off the recent All Time High was a welcome relief. The pullback we are seeing was necessary.
I am long from the 2810/2820 zone and looking for price to push higher into Friday (Feb 2).
My overall target is 2870 into Friday, Feb 2.
I don't think this is the beginning of the correction. I...