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Oops! Spy rallies into a "black candle" top


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#1 diogenes227

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Posted 08 January 2019 - 07:34 PM

From the link:

 

 

Now we are back to simple back candles at the top of more than one ETF: not only SPY, but also QQQ, and in the sectors, LABU, ERX, FNGU, TAN, FAS. These I’ve charted (see the panel below the SPY chart) but these black candles are all over other ETFs and many stock charts besides.

 

This may be a turning point. It may not. But like all great things in the stock market we won’t have to wait long to find out.

 

For more discussion and the charts:

 

BLACK CANDLE TOPS?

 

 


"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."


#2 tradesurfer

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Posted 09 January 2019 - 11:45 AM

if we get another doji candle tomorrow SPY then it could be a TRI STAR doji pattern, very bearish and very rare



#3 CLK

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Posted 09 January 2019 - 05:13 PM

The market needs a major positive news event.

Leave it to the Fed to ruin another rally today.

Market tops have recently occurred on 70 to 100 point days up, waiting for one to happen soon, but the opex games may just want to collect theta through next week on the calls.

I will not vote for Trump again, too reckless and does not do much to help the people. Life long Republican here, but the rich are getting richer and the poor are getting poorer, needs to change.

 

 

Yang2020.com


#4 CLK

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Posted 10 January 2019 - 12:22 PM

Futures are much better and more efficient for day trading than options, right now next day 1 strike in the money put is around $2,

the volatility and decay erode the price, most ES 5 min. moves stall at 4-5 points, at that point you may only be up 5-10% on the option

ES is already up $250 on just one contract, I guess if you are really trading $10k option positions it works out a little better but futures execution platforms are much faster than options, I can be out with a $200 gain while the option is hovering b/e while I'm trying to type my sell order.


I will not vote for Trump again, too reckless and does not do much to help the people. Life long Republican here, but the rich are getting richer and the poor are getting poorer, needs to change.

 

 

Yang2020.com


#5 diogenes227

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Posted 10 January 2019 - 03:08 PM

Futures are much better and more efficient for day trading than options, right now next day 1 strike in the money put is around $2,

the volatility and decay erode the price, most ES 5 min. moves stall at 4-5 points, at that point you may only be up 5-10% on the option

ES is already up $250 on just one contract, I guess if you are really trading $10k option positions it works out a little better but futures execution platforms are much faster than options, I can be out with a $200 gain while the option is hovering b/e while I'm trying to type my sell order.

 

What is the futures platform you are using?


"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."


#6 CLK

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Posted 10 January 2019 - 03:43 PM

 

Futures are much better and more efficient for day trading than options, right now next day 1 strike in the money put is around $2,

the volatility and decay erode the price, most ES 5 min. moves stall at 4-5 points, at that point you may only be up 5-10% on the option

ES is already up $250 on just one contract, I guess if you are really trading $10k option positions it works out a little better but futures execution platforms are much faster than options, I can be out with a $200 gain while the option is hovering b/e while I'm trying to type my sell order.

 

What is the futures platform you are using?

 

 

 

Apex Futures $500 Day/$1000 overnight margins per ES contract.


I will not vote for Trump again, too reckless and does not do much to help the people. Life long Republican here, but the rich are getting richer and the poor are getting poorer, needs to change.

 

 

Yang2020.com


#7 diogenes227

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Posted 10 January 2019 - 04:30 PM

 

 

Futures are much better and more efficient for day trading than options, right now next day 1 strike in the money put is around $2,

the volatility and decay erode the price, most ES 5 min. moves stall at 4-5 points, at that point you may only be up 5-10% on the option

ES is already up $250 on just one contract, I guess if you are really trading $10k option positions it works out a little better but futures execution platforms are much faster than options, I can be out with a $200 gain while the option is hovering b/e while I'm trying to type my sell order.

 

What is the futures platform you are using?

 

 

 

Apex Futures $500 Day/$1000 overnight margins per ES contract.

 

 

 

Thanks.


"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."


#8 12SPX

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Posted 10 January 2019 - 05:59 PM

 

 

Futures are much better and more efficient for day trading than options, right now next day 1 strike in the money put is around $2,

the volatility and decay erode the price, most ES 5 min. moves stall at 4-5 points, at that point you may only be up 5-10% on the option

ES is already up $250 on just one contract, I guess if you are really trading $10k option positions it works out a little better but futures execution platforms are much faster than options, I can be out with a $200 gain while the option is hovering b/e while I'm trying to type my sell order.

 

What is the futures platform you are using?

 

 

 

Apex Futures $500 Day/$1000 overnight margins per ES contract.

 

wow thats cheap!!