Looking/Hoping for a similar outcome. I am in 100 shares at $28.50.
YY hit weekly support, Sales Q/Q is 28% and day chart looks like its beginning wave 3.
Sold $65 puts for $1.04 that expire tomorrow.
Looking for DIS to go higher after gapping above a multi-year channel.
If Disney even get down here, I have prepared orders for longer term call options due to the gap opening above the 3 year distribution channel. DIS should be going up for a long time now.
SPY hourly chart currently reminds me of the beginning of Oct 2018. Lets see if this analysis pans out. I will be looking to enter puts on SPY at $286.
Now that we retraced, its time to move higher in the general markets.
Put sale near the 61.8 Fib pullback. I do not mind owning shares of PINS at $25.
-S Curve on hourly chart retesting 38.2%fib. -Strong bearish day yesterday with largest volume of the year. -Inside day candle today. I think we are going down strong for the next few days.
I have a Aug put sale because the IV is 150%, the strike price is at resistance and the stock is on an uptrend. If the price gaps in this red box (Or below $17.20), I will begin to be nervous.
Here is my thoughts on SQ. Very bearish gap n go out of a channel,,,,, but its SQ. Good long term hold. Id say $64 is a support area based on the 61.8% fib level. Either way, this is a good place to buy shares of SQ.
June 2010, SPY made a very similar false breakout. Will today replicate what happened in the past?
From here, begin to 'buy the dip' on every opportunity. Support on monthly chart. Dow theory on day chart.
Lets look for a retest into recent channel then bounce. Earnings is around the corner.
Comparing to BABA in beginning of 2015, I think IQ will begin to make lower lows. Be quick on the bearish swing trades, because I am bullish longer term.