jbeck3487 said:I'm sorry. I read my chart wrong. It was the 20 day ema. Being colorblind can be a real *****leoj said:jbeck3487 said:The 50dMA is at 27.62, which could cause some resistance. It does look ready to break the upper trend line of the wedge it is in.texagbeliever said:
Someone check me, but if LUV breaks $27.5 not sure much resistance up to $30
I have 50 day sma at 32.34. Looks to me to be trying to break the descending top trend line and get over the 21 day ema at 27.80 all at once, then gap fill at 29.2.
The previous high that I see in the box is 7.40texagbeliever said:
What is the CADE breakout of the Darvas box? $7.20?
It is up to $6.7 up 16%
and here I am thinking it's time to go the other way. The SPY box top has been just below what we're doing now.IrishTxAggie said:
SPY 5/20 300C getting some action at .55-.62
Good point. I was looking at dailies which had a high around $7.11fightintxag13 said:The previous high that I see in the box is 7.40texagbeliever said:
What is the CADE breakout of the Darvas box? $7.20?
It is up to $6.7 up 16%
McInnis 03 said:and here I am thinking it's time to go the other way. The SPY box top has been just below what we're doing now.IrishTxAggie said:
SPY 5/20 300C getting some action at .55-.62
McInnis 03 said:and here I am thinking it's time to go the other way. The SPY box top has been just below what we're doing now.IrishTxAggie said:
SPY 5/20 300C getting some action at .55-.62
So would you consider today a breakout of this box? Or did SPY need to be range bound a little longer for it to be considered a true Darvas Box?oldarmy1 said:
Heres current set up on daily charts. Remember that sideways action I said we need to look for....and if that continues it forms what? _________ test answer for class. So we had a short trend down here but it came right to the green major support. This along with the volumes I was seeing was my target area for reversal pivot and BINGO we nailed it spot on. Now we have a potential bullish harami forming but need some more upside this afternoon followed by confirmation move up tomorrow. With the expected news on unemployment it will be a feat so I'll be taking most I can get from today's moves and using covered calls to juice exits for tomorrow.
Note the lower lows and lower highs last 4 days. Always cautious with a bounce off support because bears don't just say "well it held I guess the bulls win." Nope, they say "we cleaned up with our 50% profit covering and bought some cheap calls to not only protect their short but to serve as new short entries when stocks move above the call - similar to what I did earlier only they mean business long term. That means bulls will have to really want it and believe they can create buyer interest by pushing back to mid-channel. We'll see.
Not unless we take out the $297fightintxag13 said:So would you consider today a breakout of this box? Or did SPY need to be range bound a little longer for it to be considered a true Darvas Box?oldarmy1 said:
Heres current set up on daily charts. Remember that sideways action I said we need to look for....and if that continues it forms what? _________ test answer for class. So we had a short trend down here but it came right to the green major support. This along with the volumes I was seeing was my target area for reversal pivot and BINGO we nailed it spot on. Now we have a potential bullish harami forming but need some more upside this afternoon followed by confirmation move up tomorrow. With the expected news on unemployment it will be a feat so I'll be taking most I can get from today's moves and using covered calls to juice exits for tomorrow.
Note the lower lows and lower highs last 4 days. Always cautious with a bounce off support because bears don't just say "well it held I guess the bulls win." Nope, they say "we cleaned up with our 50% profit covering and bought some cheap calls to not only protect their short but to serve as new short entries when stocks move above the call - similar to what I did earlier only they mean business long term. That means bulls will have to really want it and believe they can create buyer interest by pushing back to mid-channel. We'll see.
It's been gradually going higher each time...I'd have it about 7.50texagbeliever said:Good point. I was looking at dailies which had a high around $7.11fightintxag13 said:The previous high that I see in the box is 7.40texagbeliever said:
What is the CADE breakout of the Darvas box? $7.20?
It is up to $6.7 up 16%
I guess it will be a look on volume plus break.
No, I haven't. I have wore some before, and it makes a huge difference.Prognightmare said:jbeck3487 said:I'm sorry. I read my chart wrong. It was the 20 day ema. Being colorblind can be a real *****leoj said:jbeck3487 said:The 50dMA is at 27.62, which could cause some resistance. It does look ready to break the upper trend line of the wedge it is in.texagbeliever said:
Someone check me, but if LUV breaks $27.5 not sure much resistance up to $30
I have 50 day sma at 32.34. Looks to me to be trying to break the descending top trend line and get over the 21 day ema at 27.80 all at once, then gap fill at 29.2.
Have you looked into those glasses that work for some people that are colorblind?
You ideally want no more than 10 days so Wednesday is your moving day before things become uncomfortable.OverSeas AG said:
I have the TWTR 5/29 C30. So I am still 11 days out. When you have an option that far out, assuming the technicals still look good, do you hang on and not worry too much until the week the option expires? Today we seem to be bouncing off of $29.60ish so perhaps this is a new level of support and there is still time to finally break through $30?
I'm holding these same ones. Very curious about this resistance level... I may have been late to pick them up as I'm currently 50% down... wonder if it's a chance to get in a little more??OverSeas AG said:
I have the TWTR 5/29 C30. So I am still 11 days out. When you have an option that far out, assuming the technicals still look good, do you hang on and not worry too much until the week the option expires? Today we seem to be bouncing off of $29.60ish so perhaps this is a new level of support and there is still time to finally break through $30?
So was I a bit premature on a S&P put spread at 2930/2925 for the end of the week?oldarmy1 said:
Jul $270 and $260 are heaviest traded SPY strikes. I'm not entering hedges up this much coin until I see how the upper box gets treated.
