aggiedaniel06 said:

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2470 level is massive. Three key indicators overlap at it. We have been dancing around it for 3 days!

If I posted my chart, you'd see it isn't convoluted like the twitter one you shared. In fact, you dont even need a chart. Just three simple levels determines the next 2 weeks.

Some other posters on this thread who act like they're whizzes said 2470 isn't even on their radar. It immediately lets me know who to ignore.

Just like when I posted 2630 was massive and people wrote an essay to tell me it wasn't.

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I'd like to see the chart.

Please post if you can.

Touchless said:

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La Bamba said:

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Tweet from Scott Redler this morning

We'll see what the SPY brings at close. But unless we get a reversal here with that 247 level holding, I think we hit that next level - Aggie Daniels 238 level. JMO.

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I was actually just thinking about Model T for SPY over the last week and a half. $218.63 on 3/23, $263.16 on 3/31. $240.89 makes it complete. Should we expect resistance at that level?

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I thought model T was 50% retracement off the low from the high, so 2791.40?

Neither are. You're using weekly MAs and fib levels. Fib levels are chicken bones. Throw em in a fire with some dragon blood and make a prediction. It's a retail attempt to read support/resistance levels and it's often wrong. Backtest it.

2640 is a big level but not because of fibs.

2470 is nothing. It's a meaningless Fib level. It's not far from POC so if using it to swing trade, ok.

2370-2380 is support test.

claym711 said:

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Neither are. You're using weekly MAs and fib levels. Fib levels are chicken bones. Throw em in a fire with some dragon blood and make a prediction. It's a retail attempt to read support/resistance levels and it's often wrong. Backtest it.

2640 is a big level but not because of fibs.

2470 is nothing. It's a meaningless Fib level. It's not far from POC so if using it to swing trade, ok.

2370-2380 is support test.

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Fib is the only thing I mentioned when you asked about 2470. It's also the trendline support from 2018 correction.

And yes, I am not a day trader (unless forced to by price action). So I don't focus on intraday levels.

All I know is 2475 is back and if we can't break it, that's another "look out below" hourly indicator

What's up with PENN? Went from $9 to $10 in the last 30 minutes

thirdcoast said:

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Touchless said:

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La Bamba said:

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Tweet from Scott Redler this morning

We'll see what the SPY brings at close. But unless we get a reversal here with that 247 level holding, I think we hit that next level - Aggie Daniels 238 level. JMO.

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I was actually just thinking about Model T for SPY over the last week and a half. $218.63 on 3/23, $263.16 on 3/31. $240.89 makes it complete. Should we expect resistance at that level?

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I thought model T was 50% retracement off the low from the high, so 2791.40?

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From what I've seen on it, it goes both ways, not just the bounce back from the low. I'm still learning it though, so that could be wrong.

Coming for SPY 250 right before close then they're bailing.

I am as well. But misinformation is dangerous, esspecially because it seems people use this thread to make decsions. How many people ignored 2630 and were waiting for the "Model T" to 2800?

Also y'all might be thinking that this is all TA mumbo jumbo and know that I am not a hardcore believer in TA either. Issue is that right now markets are trading only on technicals, since there are no fundamentals to rely on. How can you know P/E or any other valuations when E is going to be a big mystery for the next 2 quarters?

McInnis 03 said:

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Coming for SPY 250 right before close then they're bailing.

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Maybe not.

Good thing you know who to ignore then.

Swollen Thumb said:

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I jumped in RUBI today at 4.38. I'm long and it's not a huge position.

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Have to keep in mind as revenues are about to go way down. So TTD, GOOGL, RUBI, etc are going to get hit possibly. But long term, obviously, all are great buys imo.

I mean, we're in agremeent of the general bearish view. But you seem to be a pro trader and not sure how you don't see 2470 as anything.

And care to explain the battleground for it for the past 3 days?

So do we think a support above low is going to hold before a retracement? Or do we think a double bottom at low needs to be put in before heading up to a model T?

So how do we think we are going to close this week?

aeroag14 said:

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So how do we think we are going to close this week?

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I need LK to blow up to the 15 model T or I am ducked.

No one can predict that. What is certain is to look at the trading ranges. It has gotten tighter and tighter each day. Either Monday or Tuesday, this puppy is gonna blow either to the upside or downside.

Unfortunately it's going to be a gap up/down open, because you know, markets be like that.

aggiedaniel06 said:

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No one can predict that. What is certain is to look at the trading ranges. It has gotten tighter and tighter each day. Either Monday or Tuesday, this puppy is gonna blow either to the upside or downside.

Unfortunately it's going to be a gap up/down open, because you know, markets be like that.

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I agree with that, should get a good feel early next week as this wedge is running out of room

Damn you RUBI

Holy volume batman

Aggie_2463 said:

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Damn you RUBI

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crap

gougler08 said:

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Holy volume batman

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No doubt!!

If you blink you might miss a 25 point swing!

gougler08 said:

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Holy volume batman

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That's our boy J-POW. Look at the exact same candle yesterday and today at 15:51 ET

Got us through out 2470 though...guess we'll see what the news has in store this weekend

Went with the SPY 246 Straddle 15 minutes before close to make a quick 50% on the trade. Also realized a 10% gain on the account for the week. Time to treat myself to some crawfish!

Why did the SPY 4/9 248p get so cheap right there near the end? Was it people unloading on a Friday afternoon? Was it those two big green candles? I bought some and am just wondering if I got bear trapped.

GreasenUSA said:

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Went with the SPY 246 Straddle 15 minutes before close to make a quick 50% on the trade. Also realized a 10% gain on the account for the week. Time to treat myself to some crawfish!

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If you don't bring enough for the class then you can't have any.

I got annihilated today. Still up about 6k but a 2k punch in the nose.

I did pick up 7k of Wynn options Jan expy, 45 strike for only $16 though. I feel good about that

MM's are absolutely savage. We have solid red day but VIX down 8%. Put holders also toast.