$SPX - Chart Link - morning high tagged
the 200 SMA on the 5 min, almost testing the underside of the open
gap. Should price push back up, filling that gap would be a
target. Otherwise nice pullback from the 200 SMA so far as
price has weakened
We're right on the cusp of breaking symmetry (technically 3 pts
over), although I think it's still too close to say definitively.
I'd like to sell a SPY call spread, but just not quite there
yet.
if a break of symmetry occurs best to wait for the bounce that
forms a lower high as a lower risk area vs chasing the immediate
down action after the symmetry break
SPX 5 min with pivots
Posted by matt on 1st of Sep 2016 at 09:57 am
$SPX - Chart Link - morning high tagged the 200 SMA on the 5 min, almost testing the underside of the open gap. Should price push back up, filling that gap would be a target. Otherwise nice pullback from the 200 SMA so far as price has weakened
We're right on the cusp
Posted by frtaylor on 1st of Sep 2016 at 10:55 am
We're right on the cusp of breaking symmetry (technically 3 pts over), although I think it's still too close to say definitively. I'd like to sell a SPY call spread, but just not quite there yet.
if a break of symmetry
Posted by matt on 1st of Sep 2016 at 10:57 am
if a break of symmetry occurs best to wait for the bounce that forms a lower high as a lower risk area vs chasing the immediate down action after the symmetry break
Absolutely! But what I am
Posted by frtaylor on 1st of Sep 2016 at 10:59 am
Absolutely! But what I am saying is it's a marginal break at this point. What's your take?