3 replies to this topic

[dTraderB]

The market is in transition - as it decides where the heck to go: up to new SPX highs and beyond or another trek down to 2740 or lower. I am tempted to simply stand aside and wait but no wimping out, let's take a stand! 

 

SPX finished below the daily SPX stop, barely so, by a few tenths of a point, so ST SELL is on.

SPX finished below the critical 2830/2 zone, so ian IT sell triggered. 

Any daily close above 2832 SPX invalidates the IT sell

Any daily close above SPX 2827 invalidates the ST sell. 

First target down is 2807. 

Most likely, the markets will chop about for hours or days or the rest of the Summer.....or not. 

This ia an hourly chart, drilling down one timeframe lower when there is too much chop in the daily chart, see below for that chart.

 

 

 

 

Daily SPX xhart with VIX overlay (bars).... not that rather tall bar on Friday. Breakout? 

 

 

Edited by dTraderB, 30 July 2018 - 08:16 AM.

[dTraderB]

Closed another 3 QQQ puts

Still holding 31

[dTraderB]

Really hard work.... 

closed another 4 QQQ Puts

almost 100% volatility trades

 

 

[dTraderB]

Nasdaq posts biggest 3-day loss since March as Facebook, Amazon and Netflix drop

• The Nasdaq notched a three-day drop of 3.86 percent, its biggest since late March, when it lost 5.12 percent over three sessions.
• Shares of Facebook and Netflix fell 2.2 percent and 5.7 percent, respectively. Amazon declined 2.1 percent while Google-parent Alphabet fell 1.8 percent.
• "The guys at the top don't stay there forever," says one analyst.

https://www.cnbc.com...l-reserve.html?