Just Like clockwork...

[jimcasada]

Looks like some big options folks are betting on $SPY (C fund) as the place to be right now.

https://www.benzinga.com/calendars/unus ... s-activity

[jatelle]

Massive Hammer off the volume shelf today printing a bullish engulfing candle that spans the previous two day's moves with good volume.

[bamafamily]

Jim,
Could you explain a little bit on which one you are looking at?
The one that expired on 5/10?
Thx

Looks like some big options folks are betting on $SPY (C fund) as the place to be right now.

https://www.benzinga.com/calendars/unus ... s-activity

[bloobs]

Looks like some big options folks are betting on $SPY (C fund) as the place to be right now.

https://www.benzinga.com/calendars/unus ... s-activity

How I interpret that chart is that there's a SPY rangebound bottom around 390-394 and a top around 410 for the short term, which is how its been for a couple of months now, which KINDA jives with my scribble below using an ascending triangle and volume profile indicators.

[jatelle]

Looks like some big options folks are betting on $SPY (C fund) as the place to be right now.

https://www.benzinga.com/calendars/unus ... s-activity

How I interpret that chart is that there's a SPY rangebound bottom around 390-394 and a top around 410 for the short term, which is how its been for a couple of months now, which KINDA jives with my scribble below using an ascending triangle and volume profile indicators.

Bloobs great scribble chart!! We are stuck range bound between two unfilled GAPs: a Bear GAP at 414.82 to 415.27 and a Bull GAP at 407.27 to 408.64. We were right above the Bull GAP this afternoon but the bears could not fill it. Whoever can fill the other's Gap first is going to set the short term trend for this market.

[jatelle]

Bloobs great scribble chart!! We are stuck range bound between two unfilled GAPs: a Bear GAP at 414.82 to 415.27 and a Bull GAP at 407.27 to 408.64. We were right above the Bull GAP this afternoon but the bears could not fill it. Whoever can fill the other's Gap first is going to set the short term trend for this market.
[/quote]

Today the Bulls were first in filling the Gap left by the Bears. And SPY closed today's session above the Inside Week high. This suggest some further upside in the near days ahead.

[wingchaser]

Bloobs great scribble chart!! We are stuck range bound between two unfilled GAPs: a Bear GAP at 414.82 to 415.27 and a Bull GAP at 407.27 to 408.64. We were right above the Bull GAP this afternoon but the bears could not fill it. Whoever can fill the other's Gap first is going to set the short term trend for this market.

Today the Bulls were first in filling the Gap left by the Bears. And SPY closed today's session above the Inside Week high. This suggest some further upside in the near days ahead.
[/quote]

Here’s hopin’…

Best of Luck (everyone) in all you choose to endeavor!!!

[wingchaser]

S Fund closed above it’s 50-day SMA…

Meaningful? Maybe!!!

https://finance.yahoo.com/news/stock-ma ... 07596.html

Best of Luck (everyone) in all you choose to endeavor!!!

[jatelle]

Bloobs, I see you and others exiting to G today. Are you calling a top or are you just following a seasonal strategy?

[bloobs]

Bloobs, I see you and others exiting to G today. Are you calling a top or are you just following a seasonal strategy?

My morning mantra:

"This year I promise to follow my strategy.....This year I promise to follow my strategy.....This year I promise to follow my strategy......ommmmmmmm"


PS - I deviated once this year already because I throught I was smart--and promptly lost 2% in gains YTD.

[jatelle]

Bloobs, I see you and others exiting to G today. Are you calling a top or are you just following a seasonal strategy?

My morning mantra:

"This year I promise to follow my strategy.....This year I promise to follow my strategy.....This year I promise to follow my strategy......ommmmmmmm"


PS - I deviated once this year already because I throught I was smart--and promptly lost 2% in gains YTD.

Good decision Bloobs - keep your promise to yourself! It is obviously working!

[jatelle]

Last Friday another Bull Gap was opened and left unfilled. SPY now has three(3) unfilled Bull Gaps below the current price and no Bear Gaps above to ATHs. This is VERY bullish.

Gaps are key for sentiment direction. When the time comes for a bigger pullback in the market, the gaps will serve as great price targets as well. The significance of Gaps cannot be overstated.

[wingchaser]

Investment Club upcoming (should anyone's schedule afford)...

https://www.meetup.com/dctraders/events/shrrksyfcjbbc/

Best of Luck (everyone) in all you choose to endeavor!!!

[jatelle]

Just an Observation. SPY has formed a Cup and Handle.
https://www.investopedia.com/terms/c/cupandhandle.asp

[wingchaser]

Investment Club tonight (should anyone's schedule afford)...

https://www.meetup.com/dctraders/events/shrrksyfckbxb/

Guest Speaker for this month is Dr. David Kass.

David's presentation is, "The Outlook for the U.S. Economy and the Stock Market". His discussion will focus on the role of interest rates and the S&P 500 over the past 100 years.

David is a Professor of Finance at the University of Maryland. Previously, he was an economist with several U.S. Government agencies.

David has appeared on Bloomberg TV, CNBC, PBS Nightly Business Report, and Maryland Public Television and has been quoted in The Wall Street Journal, Bloomberg News, The New York Times, and The Washington Post.

Best of Luck (everyone) in all you choose to endeavor!!!