So tomorrow is the big options Friday. I guess that throws in a little monkey wrench into this. But lets look where we are... yeah, this shit needs to head down. Do they keep it afloat for options Friday or keep it up and we head down in the afternoon? I guess that is the million dollar question. I see SPY in a bearish setup for two reasons. The bigger and smaller time frames show it wants to come down soon. What would change that? If we got into the 440s and started closing candles in there... but I see this sideways on the futures looking like its just hanging out and wants to come down. When things go sideways there next move will be up or down. This has alot of cards stacked against it not to mention the option flow was 96% bearish just a couple of days ago? lol. I havent looked in a few days but last I looked it was. But forget that, lets focus on the chart. I just wonder when it comes down with tomorrow being a big options day. Stay tuned... that was my 10 minutes of the market for the day. I did take a nice short on something else today. I will be patient. If I have to give a couple hundred bucks back to the market, I guess so be it.. but I dont think I have to.... I am in shares on my positions so the clock does not go against me. I know many of you do options and my hat is off to you.. they scare the crap out of me. I wouldn't be scared though if you have some time on the clock.... alerts are set to let me know whats going on. One above in case the market got really dumb and a alert below to let me know when this shit starts coming down.
PS.. Ignore the trolls. I am seeing a couple of them popping up now.
PS.. Ignore the trolls. I am seeing a couple of them popping up now.
Note
Why would you be long the market here? You would have to be brain dead.... Anyone yelling bullish ..... ahh nevermind. You will always have someone bag holding or whatever their motive is.Note
Keeping an eye on the options tape... I see tons of puts.. next week 430 and below and April are being loaded up .. they are getting puts through July and I see the low 3s... which I feel is absolutely going to be seen and then a little some.Note
Just read the chart, correctly anyone who wants to say "Oh no, we arent going that low" OH YES WE ARE!! Just when is my only question. May/ July... August? Just know.. that's going to be seen and then some.Note
I am also seeing a bunch for the teens for next friday... which makes sense. When this wedge snaps, its taking us right to the teens, pretty quickly!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.