SPY is pushing up hard at the bell today. Its a bit overboaught this morning and I'm still bearish on the market overall. I feel this may be a head fake set up. 'm looking for more confirmation, but I see this market pulling back. May be a longer trade as this market should fade though the day.
Set up looks to be flagging at the open. I would expect it to choose a direction.
Trade: pending.
Set up looks to be flagging at the open. I would expect it to choose a direction.
Trade: pending.
Comment:
I'm rolling with This Put into tomorrow. Its a risk, but I don;t see any reason why thei market rallied today. There is just no reason for it and thus shows how crazy the volatility is.
There is so much negative news and economic problems, this market is a huge bubble. Until tomorrow...
There is so much negative news and economic problems, this market is a huge bubble. Until tomorrow...
Comment:
Market is pulling back slowly. Holding this trade was a risk and the time decay is the main problem. Looking for a clear market direction (hopefully down) for an exit.
Looking for a market fade as it pushed up hard for no apparent reason. At this point, its looking to roll over. May take off by the EOD, but could carry this into tomorrow.