This is an exclusive, members-only webinar that takes a deep dive into our current positions, potential trade setups, our trading methodologies, and have all of your questions and comments addressed! (more…)
It was a slow day following the gap higher, so what does that mean going forward? Too early to tell right now, so let’s take a quick look at our positions and then spend some time on the cyrptocurrency markets.
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Markets set to rally back on the open here, but is it a corrective wave 2 and the next selling opportunity? We’ll have to monitor the opening gap and determine the best course action going forward.
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We are starting to look at the short side here with new IWM put debit spreads and GLD call debit spreads, but let’s not loose respect for this 9-year uptrend and realize that carving out this top and walking away with the prime cut of trading meat will be a process and not a single event.
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Let’s take a step back, push the emotion aside for a few minutes, and take a cold, hard look at what the S&P 500 is doing on the intra-day charts, and also what’s happening with our top-2 scenarios on the weekly charts.
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That was a quite a reversal in the S&P 500 just a few minutes following our partial exit of our SPX call debit spread. Was that it? Is it all downhill sledding here in August? It’s looking like that may be the case, but let’s watch tomorrow’s session closely.
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It was a nice and quiet summer trading session that continues to hang inside of recent ranges. We put a new directional call spread to work in the S&P and continue to nurse our profits in our range-trading butterflies.
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Good morning, Traders. Futures are flat this monrning so I’m going to spend the time updating the chart room this morning. Video coverage to resume this evening.
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4th wave triangles continues in the indexes feeding our option premium selling butterflies, but what was with the small cap Russell today? Financials and energy were dragging it lower possibly completing an ending diagonal.
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Consolidations continue allowing our butterflies more time to work. We’re still waiting for that terminal push into resistance around the 2500 mark in SPX giving that long awaited chance to look at short positions. Also, here’s an update on the Bitcoin cash fork.