Chart says all. Strong similarity to structure from March rally. Down channel is an obvious bull flag formation, seven waves down.
A measured move would reach over 4800; A blow-off top?!?
Anything is possible; not sayin this will happen; saying it could. At any rate, indicators gone oversold and a clear EW impulsive downtrend appears at or near completion. This latest selloff looks a lot like late Nov 2021 selloff that culminated on 03 Dec. See my idea on possible pivot at 4330. OFC it can pop at anytime.
The last blowup moved over 470 pips in two weeks. Can do it again for no good reason. Shorting here would be fairly high risk imo.
A measured move would reach over 4800; A blow-off top?!?
Anything is possible; not sayin this will happen; saying it could. At any rate, indicators gone oversold and a clear EW impulsive downtrend appears at or near completion. This latest selloff looks a lot like late Nov 2021 selloff that culminated on 03 Dec. See my idea on possible pivot at 4330. OFC it can pop at anytime.
The last blowup moved over 470 pips in two weeks. Can do it again for no good reason. Shorting here would be fairly high risk imo.
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NB: Double down pattern identical form to 8-14 Mar just before the blowup. Short at your own risk!
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Flipped calls Monday bet on retracement & got it. Dicey these plays these days, seems like mostly when it goes off 20 pips it wants to go off 50 by eod, lol. Watch in cash.
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Looks weak.
Trade active:
Took a few calls early AM Tues and was rewarded. Will it continue? Stay tuned. Back in cash.
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Flipped a few puts for added bank on mid-day weakness. Not real weak atm lol. I would NOT chase this rally, IF it is a 1st EW in a starting impulsive move higher THEN we gonna get a 2nd EW, probly Weds AM, pullback ~2/3 to 439 SPY for re-entry longs.
3rd EW will be magnificent IF we get it; trades at resistance, has formed a diamond pattern, can go either way here!
Look at the daily for past week... red, red, red, Green, Red, red, and Green again. Could be a one-off, eh?
3rd EW will be magnificent IF we get it; trades at resistance, has formed a diamond pattern, can go either way here!
Look at the daily for past week... red, red, red, Green, Red, red, and Green again. Could be a one-off, eh?
Trade active:
Flipped a few more calls approaching powerhour but looks weaker as it tests R again. Will it pop EOD? hmmm....
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NFLX may tank NQ again Weds. I took 1 apr22 $340p nflx debit 13.90. IV 7% it will double or go half. Spendy bet. Won't have to wait long...
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Wow -$60 oddly the AH does not have option trading on NFLX, gosh! Put should be around $50
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Yeahh QQQ -$3 AH on NFLX, SPY -$2
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Wow -80 AH NFLX and QQQ tanks, shoulda loaded up the truck!
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Fascinating, I only today discovered there are just 41 late trading exception issues with options trading 15" into AH.
Here's the list, mostly ETFs; scroll down and click on Exceptions:
www.nyse.com/markets...-options/market-info
QQQ DIA IWM SPY VXXY XLE XLF &tc
Here's the list, mostly ETFs; scroll down and click on Exceptions:
www.nyse.com/markets...-options/market-info
QQQ DIA IWM SPY VXXY XLE XLF &tc
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Banked the NFLX put and added QQQ then closed it as well. See-saw today, getting more bearish EOD. Watch n wait.
This could be a 2nd wave pullback, still very uncertain, no clear direction. Techs drag but small caps, DJI are green.
This could be a 2nd wave pullback, still very uncertain, no clear direction. Techs drag but small caps, DJI are green.
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flipped a few calls on late lift, not convincing, idk about this, 4480 was pushback zone, if it cant break above it won't go imo
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Each tiny lift gets crushed again, goin nowhere imo
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Not chasing, no position. Wait, see.
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Well extremely bearish today fgs. Could be a fifth wave down, look to see if it turns at 4330... or it could be a higher order third starting down. Certainly killed the bulls -100 pips Hi>Lo; NQ -600 hi>lo; to get that you would've had to short into the bullish gap.
I thought sure as Hell we had an initiation runaway gap going for an hour... then thought the gap will fill! Nailed that but gave it back on longs thinking the bulls would buy the gapfill.
I talked about how risky this timing game is, we get all hot and greedy thinking about how green it will get and suffer extreme disappointment to see it bleed red.
Usually by the time you realize, fgs, it ain't gettin any higher! It's too late to go short, but today it was just short all day long. Did cap a nice play on FB puts, been collecting them for ER on 4/27 after close.
I thought sure as Hell we had an initiation runaway gap going for an hour... then thought the gap will fill! Nailed that but gave it back on longs thinking the bulls would buy the gapfill.
I talked about how risky this timing game is, we get all hot and greedy thinking about how green it will get and suffer extreme disappointment to see it bleed red.
Usually by the time you realize, fgs, it ain't gettin any higher! It's too late to go short, but today it was just short all day long. Did cap a nice play on FB puts, been collecting them for ER on 4/27 after close.
