Notes: SPY coming off of a very strong week. Last week I mentioned we broke out on the weekly and should see upside, which we did. Now we have a failed 2D on the daily, and with a strong weekly close, I am guessing we see 421 on SPY before continuing higher or reversing. Going into Monday and Tuesday, I definitely think we will see some upside before making any...
Notes: Not a ton of action on the screener today as most stocks moved up 1-2% with SPY. SPY weekly breakout seems to be playing out really well with FOMC leaving a bullish feeling in the air. I still don't fully trust the bullish movement, but once again, we have to play what's in front of us and remove all personal bias from trading. Going into tomorrow I am...
Notes: Green slow run up kinda day on SPY. Not any real crazy movement as anticipated. Expecting the same, if not worse, price action tomorrow leading up to FOMC at 2 PM Est. Gonna be watching my list below but will probably call it an early day after we hit that choppy lunch hour price action that we usually get on FOMC days. Trade safe. Dont play the news unless...
Notes: SPY gapped down and had a choppy red day. I have no hope or expectations for tomorrow as I think economic news and lots of major earnings throughout the rest of the week will cause some wicked price action. Trade safe tomorrow, and don't trust the moves. MMs love to set traps in setups like this. Watchlist: MRK - 2-1. One of my favorite stocks to play...
PFE - failed 2u-1 on the daily, looking for more downside tomorrow. Put Trigger below 44.83. Put SL/Call trigger set at 45.32 JNJ - has a 2-1- on the daily. Feeling neutral but would prefer downside on this play. Call trigger above 169.62, Put trigger below 167.50. JNJ has earnings report tomorrow so be careful trading this one. (SL for call and put trigger is...