Market Trying To Follow A Bullish Road Map
The S&P 500 has started to demonstrate support above important levels. But play them carefully because they may not hold.
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The S&P 500 has started to demonstrate support above important levels. But play them carefully because they may not hold.
How do automated volatility zones work with choppiness in the SPX? Here is how to set up the trades with automated entry and target levels each day, as well as Raghee’s preferred timing on the trades.
This week was incredibly volatile. With the weak labor market data on Friday and the sell-off on Monday, markets’ volume was difficult to work through.
SPX saw another 100+ point range on Wednesday and there is probably more of that to come. For tomorrow I’m focused on this one strike.
With today’s flush into the close, there could be a path lower if the bulls can’t reclaim some key support levels. Let’s take a look.
The refusal of the VXX to go down near the end of the day, even with the SPX rallying, was a great tell that markets would sell off on the close.
Where does a trader go to find opportunities when the market turmoil leads to panic and uncertainty?
The Nasdaq did its best to cling to critical support zones at the 200 SMA on the daily chart, and the 50 SMA on the weekly chart. However, Microsoft was a bit weaker, closing below the 200 SMA on the daily and just barely above the 50 SMA on the weekly. Danielle is not buying yet, but these are the zones to watch.
We’ve had a bearish put calendar spread on to profit from the selling the market has seen over the past several days. Let’s review this trade and see how it worked.
This seems like a case of buy the rumor sell the news, with Powell coming out Dovish at this week’s FOMC meeting. We know the MAG7 had been getting sold into over the last few weeks, but there was a rotation going on into other areas. Those also got hammered at the end of this week, so the real question is: how long will this go on for?