I mentioned last week that there was some similarities between Nov 08' OPX & the current market dynamics.
So far things are playing out well as we are getting a melt up in the face of incredible odds. (Nov. 08' OPX we got a melt down in the face of incredible odds) Should things continue to play out the high should be today or early tomorrow with a big reversal into fridays close.
$SPX currently has 5 consecutive higher closes than opens on the daily, *IF* $SPX closes above 1210.77 then it will have 6 consecutive higher closes than opens.
In the past 333 trading days, no occurrences more than 6 consecutive higher closes than opens.
lol.. they did that with the 38.2, 50, 61.8, 76 whatever level already. Nothing. Nada. Pivot high. Pivot low. 21 day cycle, 40 day biblical cycle. Come and gone. Nada. Zip. Nothing. lol
Everybody and their grandma is talking about some magical fib level, well if it hits that magical level then you can guarantee a stampede is right around the corner as everybody thinks the market is going to die there
setup triggered as $SPX closed above 1210.77
thank Q operators
Well, i have swapped my options into this 4:1 bet. SPY 118, Come to daddy! Me luv u long long.
I mentioned last week that there was some similarities between Nov 08' OPX & the current market dynamics.
So far things are playing out well as we are getting a melt up in the face of incredible odds. (Nov. 08' OPX we got a melt down in the face of incredible odds) Should things continue to play out the high should be today or early tomorrow with a big reversal into fridays close.
Looks like there was another opportunity near my entry price!
Here's an easy setup for tomorrow:
$SPX currently has 5 consecutive higher closes than opens on the daily, *IF* $SPX closes above 1210.77 then it will have 6 consecutive higher closes than opens.
In the past 333 trading days, no occurrences more than 6 consecutive higher closes than opens.
lol.. they did that with the 38.2, 50, 61.8, 76 whatever level already. Nothing. Nada. Pivot high. Pivot low. 21 day cycle, 40 day biblical cycle. Come and gone. Nada. Zip. Nothing. lol
$SPX 1225 is it's last daily containment pt.
Everybody and their grandma is talking about some magical fib level, well if it hits that magical level then you can guarantee a stampede is right around the corner as everybody thinks the market is going to die there
Current $SPX high of 1213.92 is 16.22% of 2.5.2010 low.
1st $SPX high coming out of 7.8.2009 low came @ 17.11% which would be equal to 1223.21.
Good trade.
Lottery Play.
The marketmakers are betting that SPY will not go down to 118 and below by May 21. They are willing to bet 4 to1.
Buy SPY MAY 119 put. Sell SPY MAY 118 Put. Debit 0.25.
If the SPY drops to/below 118 , that Vertical spread pays out at $1.00.