To buy or not to buy.
Updated
That is the question.
Not much time to analyze because somebody needs to get work done.
I think we're going to see some ups and downs the rest of the week but my expectation is to land right smack where I guessed 2 1/2 weeks ago.
China is persistent and will continue to de-risk their economy.
I think this will eventually cause a snap back / rubber band effect as China and US economies pull apart from each other.
Demand for CPU will continue to be a pivotal factor as employers continue to kick the can down the road.
Not much time to analyze because somebody needs to get work done.
I think we're going to see some ups and downs the rest of the week but my expectation is to land right smack where I guessed 2 1/2 weeks ago.
China is persistent and will continue to de-risk their economy.
I think this will eventually cause a snap back / rubber band effect as China and US economies pull apart from each other.
Demand for CPU will continue to be a pivotal factor as employers continue to kick the can down the road.
Note
really good "buy the dip" yesterday at 4455. Here was a 5 minute chart I was using to follow the morning trading. The pattern points to this mornings actual price of 448.2. Now I just need to learn to trade. I sold my 0DTE calls for a small 30% profit. I need a better strategy for collecting profit.Several indicators I observed on fintwit that made me change my mind and buy the dip.
Question now is does SPY use 448.2 as support and go right back up to 1.5Y median. A lot of interest in weekly 9/24 450c yesterday.
Note
big nope on 448.2 becoming support. according to a gamma expert, 50% of SPY gamma is expiring tomorrow.Note
attempt #2 at 448.2
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