Posted by DigiNomad on 12th of Aug 2022 at 04:31 pm
Max Pain - "I did a calculation on the SPY (ETF that tracks the
S&P 500). Here's a chart of the SPY with the max pain level
featured with a horizontal line just below 400".
That would feature the SPY testing the 61.8% retrace...next
week. Would be gut wrenching, but as long as it stops at the 61.8
I'll make 100% profits for what I have on the board (not looking
for 100% profits, but...)
My theory for probably 3 weeks now has been that the 50%
retrace wouldn't stop the rally...because too many people were
talking about it. On the flip side, I haven't heard anyone (but me)
chirping about the 61.8.
My original bounce target posted was a move to the 50 then 200
day (which encompasses the open GAP at (4271-4300). I
simply posted a fib extension that equated to 4230 while most were
bewildered. My gut is that they will be once again but as I
always state - don't worry about prognostications instead trade
YOUR PLAN in conjunction with the evidence from the market.
I have stated many times we need to unload the bus and it's a
process.
DigiNomad - Tom Bowley always states that the "Max Pain" level
is the theoretical balance between in the money puts and calls;
and, he never really expects that number to be hit. It is
mainly provided to give market direction for OpEx.
Posted by DigiNomad on 12th of Aug 2022 at 05:00 pm
Ray - yep, got it. I when to B school, CFP, etc, etc. but I
don't mind someone else calculating Max Pain for me. I appreciate
you copying the post. Thanks.
Max Pain - "I did
Volatility Index ($VIX) Below 20The VIX closed at 19.74 on ...
Posted by DigiNomad on 12th of Aug 2022 at 04:31 pm
Max Pain - "I did a calculation on the SPY (ETF that tracks the S&P 500). Here's a chart of the SPY with the max pain level featured with a horizontal line just below 400".
That would feature the SPY testing the 61.8% retrace...next week. Would be gut wrenching, but as long as it stops at the 61.8 I'll make 100% profits for what I have on the board (not looking for 100% profits, but...)
My theory for probably 3 weeks now has been that the 50% retrace wouldn't stop the rally...because too many people were talking about it. On the flip side, I haven't heard anyone (but me) chirping about the 61.8.
Thanks Digi My original bounce target
Posted by steve on 12th of Aug 2022 at 05:50 pm
Thanks Digi
My original bounce target posted was a move to the 50 then 200 day (which encompasses the open GAP at (4271-4300). I simply posted a fib extension that equated to 4230 while most were bewildered. My gut is that they will be once again but as I always state - don't worry about prognostications instead trade YOUR PLAN in conjunction with the evidence from the market. I have stated many times we need to unload the bus and it's a process.
DigiNomad - Tom Bowley always
Posted by Ray on 12th of Aug 2022 at 04:51 pm
DigiNomad - Tom Bowley always states that the "Max Pain" level is the theoretical balance between in the money puts and calls; and, he never really expects that number to be hit. It is mainly provided to give market direction for OpEx.
Ray - yep, got it.
Posted by DigiNomad on 12th of Aug 2022 at 05:00 pm
Ray - yep, got it. I when to B school, CFP, etc, etc. but I don't mind someone else calculating Max Pain for me. I appreciate you copying the post. Thanks.
I am planning to buy
Posted by arun on 12th of Aug 2022 at 04:33 pm
I am planning to buy QQQ 310P for Aug 26