Wealth gained hastily will dwindle. but whoever gathers little by little will increase it.
Proverbs 13:11
Proverbs 13:11
I do like a rounded bottom!wanderer said:
SPY looks to be forming a rounded bottom intraday
Did this really happen? Post an analysis please.Quote:
Maybe consider this, this Administration (DOE/EIA) published numbers that stated our fuel demand/consumption in June and/or July was less than our COVID Lock-Down when nobody drove to work. Sure it was..
topher06 said:
Aren't we about the same level below the moving average lines now as we were above those yesterday? I get the terrible inflation report sort of trumps that, but why do trend lines matter here and moving averages don't but it was reversed yesterday?
Thanks. Trying to learn technical, so this stuff helps a lot.FJ43 said:topher06 said:
Aren't we about the same level below the moving average lines now as we were above those yesterday? I get the terrible inflation report sort of trumps that, but why do trend lines matter here and moving averages don't but it was reversed yesterday?
Extended above the 5 EMA specifically usually is overbought especially when multiple days in a row with no consolidation on SPY. It ran right into resistance on the last leg up and was rejected. The volume profile at the level was a wall with no power volume to push through.
On the downside once it loses price support your looking to the next lower level down. We are not oversold yet on RSI so my 2 cents is there is still room downside.
Now 175 points off the high of the day, #ES_F remains in knife catch mode but taking breather at the 4010-4k support area. Very small window for relief bounce but bulls running out of time (4025, 4040 above here)
— Adam Mancini (@AdamMancini4) September 13, 2022
Todays lows fail, we continue the sell direct to 3985, 3960 https://t.co/0i8VJYSWuE
Worth noting September is tracking its seasonality very well in $SPX: 1st couple weeks very strong, with back half ugly (averaging out as worst month of the year - last 4 Septembers all saw 5-20% sells). *IF* seasonals keep tracking, next major strength phase not until early Oct pic.twitter.com/7VduiRn43C
— Adam Mancini (@AdamMancini4) September 13, 2022
Go to https://www.eia.gov/Bonfire1996 said:Did this really happen? Post an analysis please.Quote:
Maybe consider this, this Administration (DOE/EIA) published numbers that stated our fuel demand/consumption in June and/or July was less than our COVID Lock-Down when nobody drove to work. Sure it was..
I bought a few at a different strike when you proposed this idea the other day so thank you. Unfortunately I accidentally forgot to put my sale order in quantity correctly to go netfree this morning but still a very profitable trade. Would have probably sold by now anyway. Curious to see where we go now. Probably bounce from FJ trend line if i were to guess.BaylorSpineGuy said:
Just went net free on my 10/14 400P. Gonna hold these last couple contracts until things clearly seem to find steady support. Certainly didn't break the bank by choosing such a long timeframe but I don't feel pressured to close the contracts urgently now.
I said last week I would likely have to trade longer range options, and this has worked well now.