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To update the 30-minute chart of the SPY I presented to you yesterday, we can see that the afternoon breakout from Wednesday is holding. In fact, the volume pattern seems to suggest all we are witnessing today is a healthy, rather benign pullback. Nevertheless, this morning’s strength was faded, so risk management strategies should still be respected. For now, though, the price and volume patterns look to indicate that the bulls have yet to fumble. Accordingly, I am inclined to stay constructive on the market and look for charts firming up, above all else.
Enjoy your work and the SPY looks great here .
I bought 300 of the 133 SPY calls for tomorrow and fully expect a monster score .
I’m dissappointed inside the PPT and the 12631
with ZERO exposure screens for active puts and calls…….nothing is more valuable to a day trader….nothing .
Keep in mind that The PPT is being updated continuously as it has only been in existence for a few years. 12631 has no screens, as we use The PPT and the service is an extension of an algorithm, rather than a separate one. We are constantly working to improve both services.
300 contracts, wow. That’s a good pull, hope it works out for you.
I have CAT Feb 105 Puts…. I hope I won’t get smoked!