The price action for the day looks very bullish.
Today there was news about a downed Russian plane, and the market gapped down.
But oddly, the market made a strong move up through the day closing above the open.
However I'm going to try to use my volume analysis skills to use, and I see "somewhat" a different ...
Channeling upwards, staying under supply line
demand lines are showing an acceleration in demand
Closed today close to accelerated demand line.
Saw resistance at 202 twice early in the session.
Dropped to 200.50 mid-session but recovered to mid-range at 201.3
Volume is lower than average today at 105M, will be ...
gap up, and steady move up throughout the day. Angle isn't very steep. Looks like hesitation in the last hour. More volume on the moves pushing up than the moves pushing down. (Maybe the colors are distracting, especially in consolidation areas)
Have mixed feelings about this one.
The move today is very bullish, still need to check volume at end of the day, but I'm guessing it is above average with the gap up over friday. It steadily made higher prices throughout the day.
However we are reaching the 200 resistance line. And I previously considered 197.5 ...
SPY @ 188.2
Trading in a channel downwards.
Bigger trend is down, but at a possible support around 187.
Made lower low than yesterday, but by not much. From 187.3 to 186.9, before it started rallying up in the last half hour of the trading day. (not good for bears)
If this support fails, I expect next support to ...
SPY fell from 201 to 190 in 5 days, step ladder like.
drawing a channel, we are currently at a supply line.
In the last hour, SPY has been hitting resistance at the supply line.
I decided this is a good position to go short.
The risk, there may be supply at 190.5 area, the most recent low.
VIX is high enough ...
Added short position at 188, ~191 and at 193.4
@188, I had woken up and saw that the market had gapped up but trended down the rest of the day.
I recognized there was a support close by, but didn't have any short positions. I was scared of missing out so I entered a short position. Hindsight I caught the bottom ...
I entered this long position earlier around 7:30am when SPY was at its lowest of the day, but it didn't get filled.
However it has hovered above that price and now broke that low and filled my position.
Originally I was going to wait for 204, but I decided I wanted to make sure I took advantage of the high ...
Gapped open lower, closed the gap then went even lower. Currently at lowest area of the candle.
This is a strong bearish move so decided to get on the call side.
sold 57 DTE Oct calls 212/217 for 1.08.
Could have done 213/218 for .88, but decided to take the extra risk for higher premium. Don't ...
SPY @207.68 (-1.08% move so far)
Sold OCT put spread 199/194 for .86 58 DTE
I am treating this mornings move as an overreaction, taking the opportunity to place a trade farther out of the money with 199 strike.
I shouldn't have any concerns until SPY reaches 199.
If SPY reaches 204, I will enter another long ...
FXI near bottom of range.
Will look at tomorrow's price action in the morning to determine if I want to get in.
If it stays around the 38.8 level, I am looking to get in.
If it goes up, I may decide to sit this one one.
If it drops a large percentage, I think I will still go in and bet it is an over reaction, ...
We are in a price level that has acted as a major support and resistance the 8 weeks before the start of the rally.
We will have to see if there is follow through past this support, and the 107.40 support before it can make further down moves.
My bias is long DIS, so I am hoping for weakness in the bear ...
close between 29 and 30th are the same.
Opened higher on the 31st but weak close at end of the day below the previous 2 days close.
Today opened at 31st close and started heading lower.
Treating 20 to 31st as supply line and entered a short term short position.
Will look to close out my position if reaches ...