- We appear to have found our way to a significant SPY support level amidst very oversold market conditions at around 1900. With Friday's bounce in stocks, I imagine we'll see a bit of snap back rally, but I'm not feeling it...the pull of Risk-On-O-Mania. Are you?
- IF EEM holds $43.25, then $45 is the bag. The stock has gone sideways since its mid July Relative Strength Breakout signal. But the metrics that usually support the continuation of trend are in place: Chaikin trendline, money flow and relative strength.
- I could see this aggressive bull put spread on Goldman Sacs. Price target: $177
Our rules sill keep us from initiating multi-month trend trades for the foreseeable future, but we'll have no problem safely snuggling up to some higher probability, risk defined options spread trades on any day that Implied Vol pops. Meanwhile, we lie in wait for a market failure at key resistance, with our finger on the E-mini futures sell button. Be ready pounce on on lousy stocks. Grab the offer code for a $30 monthly subscription savings and $300 first year annual savings