$SPX - Chart Link- so far at least price
stalling at that TICK pivot resistance.
despite the gap up and new TICK pivot generated this morning as
well, the market isn't behaving like a 'trend' day unless it turns
right back up hard I don't count today as a trend day given the
lack of strength after the gap. Remember on Trend days the market
rallies all morning into mid day before the typical hr sideways
consolidation
$SPX - Chart Link- price did indeed move a good
20 points higher after breaking through that TICK pivot - per my
comments below that the average move I've noticed is 15 - 20 points
when those are broken
Thanks for this one Matt. Useful information. I have been using
the ticks for stops and or entries. Is there any point in looking
at ticks on a daily chart?
again in the future consider doing more than one call option,
that way when I sell 1/2 the SPY system you can elect to sell 1/2
the ETF and 1/2 the options instead of all the options. If you buy
2, 4, 8 options etc, you have the ability to always keep one or
several, vs if you only have 1 you can't split it in 1/2
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TICK pivots
Posted by matt on 22nd of Jul 2021 at 10:44 am
$SPX - Chart Link- no new TICK pivots today, we have pushed higher, the next one isn't until 4374, which was generated on July 16th
Update: TICK pivots
Posted by matt on 23rd of Jul 2021 at 09:58 am
$SPX - Chart Link- so far at least price stalling at that TICK pivot resistance.
despite the gap up and new TICK pivot generated this morning as well, the market isn't behaving like a 'trend' day unless it turns right back up hard I don't count today as a trend day given the lack of strength after the gap. Remember on Trend days the market rallies all morning into mid day before the typical hr sideways consolidation
Update: Update: TICK pivots
Posted by matt on 23rd of Jul 2021 at 11:05 am
$SPX - Chart Link- nice all time highs baby!
initially this morning price stalled at the TICK pivot resistance area, but once it was taken out, it opened up the spigot for a melt up move
Update: Update: Update: TICK pivots
Posted by matt on 23rd of Jul 2021 at 12:00 pm
$SPX - Chart Link- price did indeed move a good 20 points higher after breaking through that TICK pivot - per my comments below that the average move I've noticed is 15 - 20 points when those are broken
Thanks for this one Matt.
Posted by mundy on 23rd of Jul 2021 at 04:08 pm
Thanks for this one Matt. Useful information. I have been using the ticks for stops and or entries. Is there any point in looking at ticks on a daily chart?
I think it's too far
Posted by matt on 23rd of Jul 2021 at 04:09 pm
I think it's too far of a time frame. The 60 min seemed like the best fit for seeing far enough time frame out but not too far
in my observations whenever those
Posted by matt on 23rd of Jul 2021 at 11:07 am
in my observations whenever those TICK pivots get taken out (to the upside or downside) the average move is about 15 - 20 points.
I would assume there is
Posted by mitchell on 23rd of Jul 2021 at 11:34 am
I would assume there is serious short covering adding to this parabolic move. Wish I would have held my calls.
again in the future consider
Posted by matt on 23rd of Jul 2021 at 11:57 am
again in the future consider doing more than one call option, that way when I sell 1/2 the SPY system you can elect to sell 1/2 the ETF and 1/2 the options instead of all the options. If you buy 2, 4, 8 options etc, you have the ability to always keep one or several, vs if you only have 1 you can't split it in 1/2