$SPY - Bye
Updated
I got signals that IWR, IWD, IWF and a few other Russel ETFs have had huge drops in my data indicating soon to be seen weakness in those ETFs and their constituent stocks.
Generally there's similar drops across the market on mid-large caps.
-Here's the data on SPY: imgur.com/a/l7xet4V
-Here's the data on the Russels: imgur.com/a/8L5fh7O
To be clear, seeing this kind of signal on a single stock would be bearish, on large ETF's like these it's more of a 50/50 on whether it's bearish or sideways-ish due to that ETF's receive different flows from single stocks.
I am betting that we'll see a small pullback to $464 in the short term based on this data. If the drop in my data slowly develops and becomes even bigger, then we might see a drop to $441, but that's to be seen. I think $464 is more likely than anything.
If you have loads of money and don't mind assignment on 47k worth of SPY stock, then i would personally have sold the $474 Call for 29 Jan and bought the $471 Put for Jan 19
I've instead gone for something a lot more simpler than this. Reminding you, that the signal doesn't often work on large ETF's like SPY, so this is a bit of a 50/50 round of blackjack in terms of profitability and more of a diary entry for me by posting it on Tradingview.
Generally there's similar drops across the market on mid-large caps.
-Here's the data on SPY: imgur.com/a/l7xet4V
-Here's the data on the Russels: imgur.com/a/8L5fh7O
To be clear, seeing this kind of signal on a single stock would be bearish, on large ETF's like these it's more of a 50/50 on whether it's bearish or sideways-ish due to that ETF's receive different flows from single stocks.
I am betting that we'll see a small pullback to $464 in the short term based on this data. If the drop in my data slowly develops and becomes even bigger, then we might see a drop to $441, but that's to be seen. I think $464 is more likely than anything.
If you have loads of money and don't mind assignment on 47k worth of SPY stock, then i would personally have sold the $474 Call for 29 Jan and bought the $471 Put for Jan 19
I've instead gone for something a lot more simpler than this. Reminding you, that the signal doesn't often work on large ETF's like SPY, so this is a bit of a 50/50 round of blackjack in terms of profitability and more of a diary entry for me by posting it on Tradingview.
Note
In my data, things are still dropping even more. I however have decided to take profit on this one for now. I expect to see a small sideways pause and then a quick upwards move. Waiting for that to happen before i reposition.You're likely to make a bit more profit, but i'm trying to manage my risk a bit better so, good luck if you decide to stay in.
Trade closed manually
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