SPX opening a new gap

    Posted by fundamentalvalues on 17th of Nov 2022 at 07:12 am

    SPX opening a new gap currently at 3,958.79, yesterday's close. Opportunity to buy off support here for a trade (which I'm doing) to fill the gap as a first target. Another gap above as well at 3,991 from the previous day. 

    First gap below at 3,748. I still have some hedge on from buying a few days back at $19.38 SPXS, trading this morning near $21 so I sold some and kept some there. 

    3,958.79 easily achieved and more

    Posted by fundamentalvalues on 18th of Nov 2022 at 07:08 am

    3,958.79 easily achieved and more this morning. Nice $ buying off support yesterday at the 9 day as I discussed.

    Cool trade Congrats. I jumped

    Posted by arun on 18th of Nov 2022 at 08:38 am

    Cool trade Congrats. I jumped in long as well

    If we stay at these

    Posted by kobie on 17th of Nov 2022 at 07:52 am

    If we stay at these levels the wave 5 are probable in...

    My style is to take

    Posted by fundamentalvalues on 17th of Nov 2022 at 08:05 am

    My style is to take some long near the lows premarket, nothing scale/size wise until I see what is going on when the cash market opens. Unless things are really extended then I will consider otherwise. As I noted, I'm hedged as I bought inventory for that when prices were very good on the run to 4,020s the other day. 

    Possible supports are either that 3,930s area or the 9 day. Will see if the 8:30 numbers make any difference or not direction wise. This market basically moves overnight now some days, imagine it still may be tough with opex. It can get  harder for indexes during these weeks. Knowing all that, there is still price action so I don't get too caught up with projections, though aware of possibilities. 

    Yesterday was a good day to focus on the short trade for semis and had a great day there. I didn't stay though as the NVDA report was coming out and the market was still in a range for a potential bullish continuation. I'm big on limiting my risk around events and reports like that. 

    Sometimes I'll limp in just to track where things are like this morning. Once I have the right risk/reward, I'll increase positioning. I'd be interested to hear more on your strategy as well. Looks like you do a lot of daytrades from the posts on NQ. 

    Target measured move from the

    Posted by kobie on 17th of Nov 2022 at 08:11 am

    Target measured move from the h&s top....

    that makes sense, thanks for

    Posted by fundamentalvalues on 17th of Nov 2022 at 08:13 am

    that makes sense, thanks for sharing

    Target measured move from the

    Posted by kobie on 17th of Nov 2022 at 08:11 am

    Target measured move from the h&s top....

    Where is your support?

    Posted by kobie on 17th of Nov 2022 at 07:50 am

    Where is your support?

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