Willn12416
An apple a day keeps the profit awayWhats up Traders
Zoomed in look at a larger chart i posted previously. see link below.
Yellow Line - Broken Neckline of Head and Shoulders Pattern
Target Zone - is our options put take profit area, expiry 11/9
Looks coiled up , Symmetrical Triangle, with a little afternoon Volume, we are expecting price to take another leg down into the weekend.
Lets see how it plays out.
SPX - Volume DivergenceWhats Up Traders -
I was in the Troll Box Earlier, Taking Grenades, but I just dont know how we cant at least see how this 'rebound' as many put it, is not proven.
Another example of my concern, volume and price action diverging. Shows weakness in the conviction of this move.
Manage your own Risk, thats the most important thing to do. Youre swimming in shark infested waters.
SPX - 50W Moving Average in PerilWhats up Traders - As always, the explanation is on the chart.
Just some food for thought and concern. I am NOT the only one talking about this by a long shot.
Keeping an eye on things, and like most seasoned traders, We are trading with extreme caution right now
- - Macro Headwinds - -
China - Trade-war / Tariffs
November Election / Midterms
Saudi Arabia Political Nonsense
FED Interest Rates
Flattening Yield curve
Earnings Season - Seeing reduced outlooks by companies reporting so far.
End of the Year Profit Taking Season
I dont like it.
XLC - Communications Sector Spider Fund - ShortWhats up Traders
For the same reasons that we have been playing the bear on the XLK - we will be looking to play the bear on the XLC.
Challenge:
DYOR - check out the composition of this ETF, and explain to me why moving through the midterms you think it will do well?
Best of luck everyone, on all of your trades.
NFLXWhats up Traders -
We posted on this previously. Earnings came out well, and the price action deviated from trend..
We believe that the Long Running head and shoulders pattern could still be in play.
Keep an eye on this one, and wait for the appropriate conditions to be met before entering a trade.
XLK (Short)Whats up Traders
Tech section is taking a pounding -
I expect that the midterm elections are going to be horrible for the tech sector - Twitter, Facebook, Google, with lots and lots of threats at regulation on those companies.
Expect a big opportunity to score here with some november puts on this one.
Good Luck, DYOR