SPY Breakout this WEEK
I am anticipating the price breaking out / getting above July Monthly high of 390.64 this week
Two Alerts I am watching for this week that I will be open to playing CALLS/PUTS
Alert 1 : Greater than 397.19
Playing PUTS if we get the breakout to the upside and price is clearing 392 with ease there should be some resistance at this 397 level if it hits it first touch in market hours. I am not looking to play this short for very long and depending how price sets up may not take it at all BUT I likely will bc it should provide a rejection to 395
Alert 2 : Less than 380.26 or 377.84 (Hard to say which yet until week opens up)
This is if we are pulling back to start out the week I want to play CALLS as I expect the 373 lows to be established and not ran again right away at least.
Two Alerts I am watching for this week that I will be open to playing CALLS/PUTS
Alert 1 : Greater than 397.19
Playing PUTS if we get the breakout to the upside and price is clearing 392 with ease there should be some resistance at this 397 level if it hits it first touch in market hours. I am not looking to play this short for very long and depending how price sets up may not take it at all BUT I likely will bc it should provide a rejection to 395
Alert 2 : Less than 380.26 or 377.84 (Hard to say which yet until week opens up)
This is if we are pulling back to start out the week I want to play CALLS as I expect the 373 lows to be established and not ran again right away at least.
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