A no trending market is the hardest market to trade and I continue to say less is more. Barely any trades last week because the opportunities were so slim. Unless you held something through earnings there were really no large enough moves worth options. Breadth: There are no comments for any of these breadth measures...
Purchase access here Please note that open interest often changes during the week when a stock has a big move. This provides a great starting point, but it would be up to you to continue to track it throughout the week if you are trading one of these names. If it’s an earnings name, the chart will...
Still choppy, still no trend, still no follow through. Profits really need to be taken quick. Holding doesn’t work on either side right now. Breadth: SPX stocks at 20-day highs: We did finally get over 15%, but so far no follow through. As I said last week, the issue with oversold conditions that keep relieving...
Range bound and very challenging environment right now. There is absolutely no trend and no trend means brutal chop. SPX does seem to be forming a rounded bottom and with earnings coming up we are likely getting closer to some better movement and follow through. Breadth: Essentially we are not oversold or overbought and are...
The market continues to be without trend and although there is plenty of movement, option trading has to be precise and very short term at the moment. Although traders are constantly wanting volatility, it’s a double edge sword because it makes for a lot of chop and trading becomes a lot more challenging. I will...
It’s been a tough few weeks where every trade taken likely needs to be very short term and carries extra risk. There hasn’t been much follow through and knowing that and importantly understanding that should be taken into consideration when deciding if a trade is worth it. Most traders lose money in this type of...
SPY Open Interest for Monday, Wednesday & Friday
If you have not yet subscribed to my weekly freebie you can do so below to get next weeks free trade idea sent to your mailbox Monday morning. Last week we were off, but two weeks ago was $AMZN and if you took the trade it was a MASSIVE winner. The stats for the weekly freebie […]
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