SPY is trying to break that H pattern. Could be a reversal
Stock Markets
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Last: 1 hr ago by El_duderino
Just now catching up on the thread, saw the white flag. Don't need to kick a horse that's down.
Yeah, dude definitely saw something that wasn't there in your completely non-political response.McInnis 03 said:Did I suggest any specific action? Try again next time.M.C. Swag said:So you'd suggest shorting SPY b/c a single citizen may release tax records?McInnis 03 said:Uncertainty is something markets don't always prefer and political hubbub tends to be the most yuck uncertainty.M.C. Swag said:how does this affect the stock market?Prognightmare said:
SCOTUS split the cases. They ruled the Manhattan DA can get them but not Congress. Manhattan DA office is full of progressives, there will be a "leak" so dems and media will get them.
Honestly, this has nothing to do with the objective of this thread. Can we please leave the political arbitrage at the door?
My algo is very short. Max contracts.
Same here. It just crossed back, right?TecRecAg said:
I hope I have my charts set right. Looks like 8 just crossed back over 21 on SPY. Could be good sign of a run up.
I pinned my hedge flys for 310 tomorrow59 South said:
Watch and see if SPY holds the 8 day here. If it doesn't and things get shaky, then we'll probably see the 21 tested today or tomorrow around 310. If that were to fail, then it had better hold the 50 down around 303.50. That is also clear trend line support so the most critical level to hold over the next few days.
I will say this. My FEYE 7/17 12.5c have held through this drop and now are pushing back up.
aggiedaniel06 said:
My algo is very short. Max contracts.
Sorry. Yes, it did. But now it looks like it's trying to go north of the 21 yet again..
Sweet Ill take a look at thatgougler08 said:Tradingview has all the history it seemscptthunder said:
IS there any way to get the old RUBI data stiched together with the new MGNI? Trying to work on getting a re-entry and dont want to do something too stupid on this with out the back up data support
THanks
Cool, looks like I got it right.
M.C. Swag
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ROKU
Slow day for me.
In CSCO 7/17 48.50 @ .33
In CSCO 7/17 48.50 @ .33
I'm as amped for y'all about ROKU as anyone, but I'm not convinced that it's broken the channel yet...
Add PENN 8/21 38C at 1.47. I think sports gets them moving.
AMD coiled for a bit. Looks like it wants to make a shove upward.
I think it will today or tomorrow. The volume is big so far today without any real news as the catalyst. I'm expecting something positive to come out soon based off the action today. I bot the 8/21 180cMcInnis 03 said:
I'm as amped for y'all about ROKU as anyone, but I'm not convinced that it's broken the channel yet...
SPY is squeezing on the 4hr and the daily and setting up for a massive move.
If the direction is up, then it would mean that the move would need to be fueled by the value trade (IWM, financials, travel) as tech is pretty much maxed out.
If the direction is up, then it would mean that the move would need to be fueled by the value trade (IWM, financials, travel) as tech is pretty much maxed out.
I bought next week 60c for .45. They had some action on them earlier.TecRecAg said:
AMD coiled for a bit. Looks like it wants to make a shove upward.
Hey looky there, SPY went down and paused briefly at the daily 8 EMA before failing to just above the 21 EMA and now has bounced back to reclaim the 8. That is typically signs of a bullish reversal if holds the 8 day, BUT.....
If it closes between 312.50 - 315, it is in purgatory with bearish lean because a bearish engulfing reversal. Some mixed signals so best do nothing until direction is clear.
Bottom line, you can't be long with a bearish engulfing on the daily, and you can't be short with a close over 8 EMA.
Since 313 is such a critical past level that is just above 8 EMA, you cannot be short if we hold that.
When things get a little dicey like this, I don't even think about long term stuff in SPY/IVV etc. I immediately go check all individual stock holdings so here we go. This is all I hold at the moment outside of some very small speculative positions:
If it closes between 312.50 - 315, it is in purgatory with bearish lean because a bearish engulfing reversal. Some mixed signals so best do nothing until direction is clear.
Bottom line, you can't be long with a bearish engulfing on the daily, and you can't be short with a close over 8 EMA.
Since 313 is such a critical past level that is just above 8 EMA, you cannot be short if we hold that.
When things get a little dicey like this, I don't even think about long term stuff in SPY/IVV etc. I immediately go check all individual stock holdings so here we go. This is all I hold at the moment outside of some very small speculative positions:
- AMD - nice! all good
- SQ - down 3.5% OMG, haha still extended way above 8 EMA... not worried
- NIO - nice holding 13 well, inside day to absorb massive gains, 14 means 15 will be retested. higher low so far. good!
- AMZN - I'm probably never selling no matter what but GOOD
- JD - finally sold 60% this morning to go net free on 500 shares in my 401k. Hopefully it will be the AMZN of China in the next decade or two when I'll sell those shares for a cool half mil GOOD
- ROKU - WHOOOOOP! It has taken lots of patience over the past few months, but it is now paying off big. It's booze thirty on Thursday here so I'm done for the day to go have something nice.
Just went net free on my ROKU Oct 200 calls.
Looking at the hourly chart, power move holding followed by multiple rising support candles. Unless we tank in macro, I'll be surprised if it doesn't get to at least 57.50 by tomorrow.TecRecAg said:
AMD coiled for a bit. Looks like it wants to make a shove upward.
don't get fooled that every time it crosses there will be a run. Look at volume and momentum as well. Sometimes it is a trick to pop above (or below) and then it turns the opposite way.TecRecAg said:
I hope I have my charts set right. Looks like 8 just crossed back over 21 on SPY. Could be good sign of a run up.
aggiedaniel06 said:
SPY is squeezing on the 4hr and the daily and setting up for a massive move.
If the direction is up, then it would mean that the move would need to be fueled by the value trade (IWM, financials, travel) as tech is pretty much maxed out.
Agreed
Yea, that's also a secondary channel that will probably only make it pause a bit and digest a power move like today. The volume is indicating this confirming this as the big long time 10 month consolidation since last Sept. It's also the right shoulder of a massive inverse H&S. There's a straight line resistance as well right at 150 so it may stall a little here in the mid 140s up to 150, but the cat is out of the bag. Don't fight it.Prognightmare said:I think it will today or tomorrow. The volume is big so far today without any real news as the catalyst. I'm expecting something positive to come out soon based off the action today. I bot the 8/21 180cMcInnis 03 said:
I'm as amped for y'all about ROKU as anyone, but I'm not convinced that it's broken the channel yet...
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Let it ride
Spot on. Algos love these levels to play games. That's why holding (or losing) these levels into close mean so much momentum wise. If you get below, you better get back above fast and hold it to stay long. They're also not exact meaning that a few cents +/- don't really mean much to that exact number.$30,000 Millionaire said:don't get fooled that every time it crosses there will be a run. Look at volume and momentum as well. Sometimes it is a trick to pop above (or below) and then it turns the opposite way.TecRecAg said:
I hope I have my charts set right. Looks like 8 just crossed back over 21 on SPY. Could be good sign of a run up.
One last thing on why I'm holding what I'm holding... they are all fairly insulated from COVID risk. That was on purpose. No way in hell I'd be holding O&G, travel or casino stocks right now. I'll wait until COVID goes away sometime in the unknown future. I'm never gonna scrape that bottom entry, but I'm also never going to expose my nest egg to risk like that that I've worked so hard to build.
This stuff is a casino if you let it be. Don't do that with 'bets'.
This stuff is a casino if you let it be. Don't do that with 'bets'.
Congrats! That's how ya do it!PearlJammin said:
Just went net free on my ROKU Oct 200 calls.
Scooped up some MGNI at $6.33. Hopefully that was bottom.
AMD another breakout to big resistance, I think the cat is now out of the bag on this one too. I'm hoping for a little consolidation today now and will look to double my position tomorrow hopefully around 55-56 range. I would love to get it under 55 but it may not stop. First entry was 54 last week.
welp, I'll be getting called out of my weeklies for AMD covered calls59 South said:
AMD another breakout to big resistance, I think the cat is now out of the bag on this one too. I'm hoping for a little consolidation today now and will look to double my position tomorrow hopefully around 55-56 range. I would love to get it under 55 but it may not stop. First entry was 54 last week.
If ON (semi) breaks out of the 6/15 Darvis at current trend, looks like it will have a lot of leg room.
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