Posted by frtaylor on 27th of Mar 2018 at 02:32 pm
Speaking of symmetry, the current SPX pull back will equal
yesterday morning's pullback at roughly 2637 (can exceed that by
8pts and still be only 20% greater than yesterday's, which was 39
pts). Will the bulls show up? We'll see....
remember that 20% number is just something I noticed, it is by
no means a hard number. The higher the better actually.
Like on Monday morning the market had a 50 point rally off
the Friday lows, that was double the move of the previous bounces
of 23 points.
Remember this is not an exact science, I just noticed anything
say 10% or less is just noise, and 20% has a chance.
Posted by frtaylor on 27th of Mar 2018 at 03:42 pm
Totally understand. I was simply trying to reiterate (if anyone
was reading my post) that symmetry is pretty "squishy." I did
not go long, btw. In fact I bought a QQQ put and as price continued
down I sold a lower QQQ put for more than what I paid for the first
put. So it's a winning trade no matter what. I try to enter spreads
that way anytime I can.
Now, yesterday's 53 pt up move becomes the bounce symmetry to
beat before going long. So I won't be getting bullish until that
happens.
Speaking of symmetry, the current
Posted by frtaylor on 27th of Mar 2018 at 02:32 pm
Speaking of symmetry, the current SPX pull back will equal yesterday morning's pullback at roughly 2637 (can exceed that by 8pts and still be only 20% greater than yesterday's, which was 39 pts). Will the bulls show up? We'll see....
remember that 20% number is
Posted by matt on 27th of Mar 2018 at 03:21 pm
remember that 20% number is just something I noticed, it is by no means a hard number. The higher the better actually. Like on Monday morning the market had a 50 point rally off the Friday lows, that was double the move of the previous bounces of 23 points.
Remember this is not an exact science, I just noticed anything say 10% or less is just noise, and 20% has a chance.
Totally understand. I was simply
Posted by frtaylor on 27th of Mar 2018 at 03:42 pm
Totally understand. I was simply trying to reiterate (if anyone was reading my post) that symmetry is pretty "squishy." I did not go long, btw. In fact I bought a QQQ put and as price continued down I sold a lower QQQ put for more than what I paid for the first put. So it's a winning trade no matter what. I try to enter spreads that way anytime I can.
Now, yesterday's 53 pt up move becomes the bounce symmetry to beat before going long. So I won't be getting bullish until that happens.
Also, SPX turned down basically
Posted by frtaylor on 27th of Mar 2018 at 02:42 pm
Also, SPX turned down basically at the 9 ema. If you day trade it would have been a reasonable short w/ a tight stop.