Opening (IRA): IWM August 16th 170 Short Put... for a 1.78 credit.
Comments: Starting to round out my Q3 rungs here on weakness and higher IV, targeting the <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. Already have June and July rungs on, so going out to August here.
IWM
Opened (IRA): IWM June/July 182/180 Short PutsComments: Added at strikes better than what I currently have on in weakness, targeting the <16 delta strikes in the respective expiries paying around 1% of the strike price in credit to emulate dollar cost averaging into the small cap ETF.
June 21st 182: Filled for 1.89
July 19th 180: Filled for 2.22
I also briefly looked at QQQ and SPY, but couldn't get in at strikes better than what I currently have on, so am leaving those positions alone for now.
Opening (IRA): IWM June 21st 175/July 19th 170 Short PutsComments: Targeting the <16 delta strikes paying around 1% of the strike price in credit to emulate dollar cost averaging into the small caps ETF.
Adding here on weakness, better strikes than what I currently have on in those expires.
Filled the June 21st for a 1.75 credit; the July 21st 170 for 1.76.
Opening (IRA): IWM June 21st 185 Short Put... for a 1.87 credit.
Comments: Targeting the <16 delta strike in the shortest duration that pays around 1% of the strike price in credit to emulate dollar cost averaging into the broad market.
The ROC %-age isn't tremendously sexy here, so primarily doing this to keep theta on and burning while I work shorter duration, higher IV underlyings (e.g., SMH, XBI, GDX/GDXJ, etc.).
04/27/2024 - Watchlist, Stocks, Crypto - Video Idea - TA ChartsWatchlist, Stocks Indexes, Bitcoin, Crypto TA Charts by @NoFomoCharts
00:25 Watchlist and News
02:05 Stock Indexes
06:22 Crypto, Bitcoin, Altcoins
Watchlist, SPY, QQQ, DIA, IWM.
TOTAL, Bitcoin (BTC/USD), Halving History, ETH/usdt, BNB/usdt, SOL/usdt, ADA/usdt, XRP/usdt.
04/27/2024, 08:00PM EST Video Idea.
Technical Analysis & Educational Chart Videos.
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All content is Not financial advice.
SPY min upside 5150 and up to 5330 june 6thThe chart posted is that of the spy in which I posted back in March I have NOT changed the labeling as it was correct .We are at the end of wave A down and should see a rather sharp ABC rally back up to a min of 5150 and then a pullback followed by the last wave up I do think it can reach as high as 5330 this is the alt to my 5261. We are now one of the most over sold in a few years . Best of trades WAVETIMER
04/21/2024 - News, Stocks, Commodities, Crypto - Video IdeaNews, Stocks, Indexes, ETFs, Commodities, Bitcoin, Crypto TA Charts by @NoFomoCharts
00:22 Part 1 - News and Watchlist
03:32 Part 2 - Stock Indexes, Metals, Commodities
10:58 Part 3 - Crypto market, Bitcoin, Altcoins
Watchlist, SPY, QQQ, DIA, IWM, GLD, SLV, USO.
TOTAL, Bitcoin (BTC/USD), Halving History, ETH/usdt, BNB/usdt, SOL/usdt, ADA/usdt.
04/21/2024, 09:00PM EST Video Idea.
Technical Analysis & Educational Chart Videos.
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All content is Not financial advice.
Watching for IWM to bounce off support
IWM is currently in a strong accumulation area based on the volume profile delta. The indexes were a bit oversold after yesterday's CPI report and FOMC minutes, leading to a bounce in the afternoon. I am skeptical as to whether today's PPI report and fed speakers will have the same effect so I closed my puts. Here is my reasoning:
VIX keeps rejecting above $16.25. If it does not move up sharply at market open, I expect it to reject again and move back down towards $13.00.
The 10y bonds chart looks like yields have topped out for the week after hitting the R3 fib pivot point. I see it retracing down the channel until next week.
Same situation with the Dollar.
I expect a small rally into the weekend or early next week. Timing will depend on the reaction to today's PPI report. I'd like to see a dip in the morning so I can minimize risk in case there is not enough momentum to get to $206. I expect some choppiness there so we can either continue moving up next week or head for new lows.
Also thinking this looks like another bullish wedge on NYSE..
Timing the market. IWMWhat we know? Oil is likely bullish in 2nd Half (24'). BTC leads the small caps. TNX usually works as a head wind (and has took a pause). Rate cuts are very bullish for small caps and financials benefit in this environment?
technically; the 20dma works as a driver. 50dma and 200dma just gives you context. You can add MACD to confirm things.
Im speculating that small caps breaks out in mid April.
U can fact check using IWM/SPX.
SMCI Critical level IncomingSMCI saw a nasty down move today with the market.
Semiconductors led the downside move today.
It seems massive amount of capital rotated out of the market today.
This low float volume stock can unwind in a sharp way if this support is breached.
Remember dip buyers will likely start to accumulate as semis are coming from All time high bull market.
Everyone is watching the potential head & shoulder pattern that could trigger with more weakness.
Opening (IRA): IWM June 21st 180 Short Put... for a 1.82 credit.
Comments: Targeting the shortest duration <16 delta strike paying around 1% of the strike price in credit to emulate dollar cost averaging into the broad market. There is no July contract yet, but June is still paying at <16 delta ... .
QQQ (Nasdaq etf) - Potential Bearish Momentum - WeeklyQQQ (nasdaq etf) has been uptrending for over a year (2023 to 2024).
However, signs of a potential pullback in the long-term charts are showing with the price and rsi oscillator.
In the long-term, a potential pullback may occur in the price, and the price could fall down to $426, $419, $400, $394 support levels.
Long-term resistance levels are: $460, $470, $480, $500.
QQQ etf volatility and trend can be affected by FOMC Interest Rates, Corporate Earnings, Consumer Sentiment, and Global Event Catalysts.
A major bearish catalyst or a series of bearish events would be needed to reverse the price back down.
Note: Without bearish events, the price of QQQ could continue rallying to new all-time highs.
$ARKK - VCP (Volatility Contraction Pattern)AMEX:ARKK Mark Minervini made famous the VCP as a set-up. It is also simply a wedging pattern that can break either way. However, where there was a previous uptrend, like in this chart, the direction of the break is usually to the upside. The path of least resistance is a continuation of the previous trend.
ARKK had a move of over 60% from the Oct 30th low to the Dec 27th high. It pulled back about 18% from that high and has been digesting since and is now down less than 8% from that most recent high.
As in life there are no guarantees on this. But here is my plan, I have an alert set on the upper downtrend line. Should that trigger, I will look to go long with a stop either below that day’s low or a close below the 20 EMA (White). All TBD.
Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
$QQQE & $RUT show breadth is not as bad as they're saying$QQQW is the equal weight NASDAQ:NDX and it is at an all time high, forming a cup. The question is, "Will it form the handle & breakout"?
TVC:RUT is in an uptrend but facing trouble at resistance.
This shows that breadth is not as bad as they paint it to be. However, it could be a lot better.
AMEX:IWM