SPX is at support, bounce to be shorted, resistance at 4040
Updated
Well who would of know about gap and crap?
My yesterday post had it all covered.
The magnitude of a gap up I had no idea about and it came quite strong, but still made a lower higher into that Yellow resistance line
That Yellow line comes from Feb 2020 high, so its a very important resistance.
I have taken several trades on the open, sold calls and bought puts, now my puts are covered and I will re short at or above 4040SPX
My first main target is at 3953SPX so my bear spread would be buy 3955 and sell 3940 all SPX exp 19th of Dec.
I did post screen short for some trades I took, it was a great trade.
I still have bear spreads I bought at the close yesterday, those should get to BE easily if we see my target today.
There is a support at 3984-88SPX, I will go long there for a bounce with a stop
My yesterday post had it all covered.
The magnitude of a gap up I had no idea about and it came quite strong, but still made a lower higher into that Yellow resistance line
That Yellow line comes from Feb 2020 high, so its a very important resistance.
I have taken several trades on the open, sold calls and bought puts, now my puts are covered and I will re short at or above 4040SPX
My first main target is at 3953SPX so my bear spread would be buy 3955 and sell 3940 all SPX exp 19th of Dec.
I did post screen short for some trades I took, it was a great trade.
I still have bear spreads I bought at the close yesterday, those should get to BE easily if we see my target today.
There is a support at 3984-88SPX, I will go long there for a bounce with a stop
Note
BTW we made a lower high today on that open!Note
PollRed Close - Yes No Flat
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Note
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Only ABC down, unless EWT pro can find 5 waves down thereNote
SPX is bouncing off the broken triangleMain resistance is at 4040-52SPX now
Must watch 4028-34SPX on the close for a clue of the next move up or down
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