The start to the week was very uninspiring and difficult to trade, but the end turned out to be great. It was a good reminder of why it’s important to be patient when trading. Better to take swings when the market environment is friendly to traders. Of course that’s easier said than done, but I...
Last week was not a friendly environment for short term traders. There were a couple rug pulls mixed in with a ton of sideways action that kills short term option buyers. As traders there is nothing we can do about that except know that the market isn’t trending and be less active and careful to...
As crazy as it may seem the uptrend continues unfazed for now. Last week I said we would likely see a lot of sideways action. I didn’t mean for that to be literal, but with SPX it pretty much was. I do think we will begin to move outside of that tight range next week...
We are currently in such a strong market that SPY was able to push over high strike calls and continue higher Wednesday and Friday. There is no doubt SPX could use some consolidation, but it doesn’t mean that it will and it also doesn’t mean stocks by themselves can’t continue to be strong and rally....
The market made new highs last week and based on Friday’s closed is very likely to see higher highs next week. A new quarter begins Monday and we are mostly flat so we will go with the flow based on where money is moving. Breadth: For the most part the breadth doesn’t give us any...
Clues From Expiration for the 1st week of November
I was out of town last weekend hence no post. Luckily I returned in time to trade the Friday fun. SPX closed at a new high and is likely to see another new high at some point next week. Open Interest: SPY-W: (45 of 59 pins).* Currently the best pin is around 256, but it’s […]
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