winewind

winewind

I am creating this for friends but thinking it might be good to share. Obviously TSLA has been one of the hottest topic in the market. The decisive down move today is not too surprising to me. After I kept selling covered calls a few times, I cleared my shares at $810 when I saw the price broke the 2nd support line, suggesting my friends either selling the...

winewind

Two paths in my imagination. All in all, SPY will drop below SMA20 at least in the next move. Then we will see if the lower support line works. My personal guess is that it will follow Path 2, trying to make at least one more higher high before the right shoulder forms and the bear starts roaring. It make take another 2-3 months to be there.

winewind

It looked like an ascending triangle. But a head-shoulder pattern has formed with volume confirmation. It usually is not a good sign. My bias is still a bit up. But if the price breaks the micro support line, I would be neutral-bearish before the price holds at the bottom support line. I do have mid-term calls open now as I still think AMZN will make a higher high...

winewind

Hard to believe, but I think here the head-shoulder comes. If the stock movement is rejected by the upper resistance line, I will consider to buy some put there.

winewind

Made this plot for friends 2 days ago and added some comments today. I will keep the bottom supporting line for 1-2 more days and see how the rebound it. Not sure if I should call it a bottom though I sold some puts there. In a long run, yes, it is worth buying here.

winewind

Looks like a short down journey for FB has started. Let's wait and see if this XABCD pattern will turn into reality.

winewind

SPY has been oscillating for a while. A big upper triangle is being formed. The bias is up. The breakout timing could be the inauguration on 1/20.

winewind

After taking more measurement, I think this wave has high odds to go above the top channel line and reach 227.3, either by the end of today or tomorrow. The trend may continue after that after a short break.

winewind

nothing new. just sidewall behavior. It seems there is a channel.

winewind

I think we may have a support here. Wait for the first green bar.

winewind

We are heading to the 2nd line, from which I expect to see a drop.

winewind

We are getting to the right spot now.

winewind

I agree with some earlier comment that we'd better wait more for a safer entry. The market keeps making new microstructures these days. For option swing traders like me, it requires more time to watch the market, which is tiring. After clearing the short position entered on 10/24 this morning, I decided to wait. Though I missed the strong rebound, I may have a...

winewind

It is a down time again?

winewind

it could be a big red bar today.

winewind

It is possible we will have a open high and close low in next Monday. For bears, I suggest waiting a bit more if you missed the high this morning. At least wait for spy to retest the upper track line.

winewind

for overnight trader no rush to long

winewind

Short spy for quick hands