hungry_hippo

SPY More Wedgies

hungry_hippo 업데이트됨   
AMEX:SPY   SPDR S&P 500 ETF TRUST
More wedgies as the market is still moving up. Yesterday's doji appears to be a headfake, we may see another dip before breaking through this next resistance. At this point, it;s safe to say that the market will continue to melt up for a few more days.

Financials leading the way (which is very bullish) buying GS calls on the dip was the obvious day trade.
코멘트:
... and we just broke through already. Wow. GS running up, not sure what my exit plan is, Feb calls....
코멘트:
Be careful about shorting what appears to be a reversal. It's forming a pennant here at the end of the day, and futures may gap it up tomorrow.

Imagine if you lived in China or Europe and your market gapped up big, which direction would you take it? Well, all futures move in the same direction.
코멘트:
Futures already broke upward out of the pennant and retesting the day's high. Let's see if the European markets tank futures like the last breakout. If European markets break out then next week will be huge just from futures getting pumped overnight
코멘트:
Futures stalled out and flat, at this point I think tomorrow will be a flat day, maybe a small gap up and and another head fake doji for a bear trap.
코멘트:
As I suspected yesterday afternoon, Euro and Asian markets up big. Looks like a breakout, may decide to go long on foreign markets instead of playing with SPY....

Just be mindful of currency trends when dealing with foreign country ETFs.
코멘트:
It's looking a bit toppy here at my 5. Flipped the SPY and XLF calls. Might be time to start balancing things out with some puts, maybe NFLX.
코멘트:
Funny thing is, people think news matters. The only news that matters is the interest rate. Interesting that this China "news" coincides with European markets breaking out and completes the wedge almost perfectly.
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