The SPX spread today tighter once again after price action yesterday-around 18 points at the 2800 strike leaving us 2818-2782 as the edges to watch for expansion or reversal. You can see by looking at these numbers, we are clearly rangebound and big traders are waiting for the next catalyst. Divergent action allows for potential big wicks and likely reversals. Traders are filling in thin volume profile regions.
Markets remain very messy and are quite volatile. Please use caution with size.
Our Metastock Map for swing trades, TARGET RICH TRADES, is now looking at the lower high of 2807-2812 to reject and engage short on the swing. Divergence and defense of overnight lows tell us buyers still sit below. It also tells us that as long traders, we should be holding smaller sizes and taking profits. Here’s a link to the software
How about finally starting that trading journal?
You should – Here’s an easy way to keep track of your progress
PROTECTED DATA SITS BELOW –
IF YOU CAN SEE THIS LINE, YOU ARE LOGGED IN
Please download the link for the newest data
WEBINAR LINK LIVE FEED OF THE CHARTS BEGINNING AT 10:30am CENTRAL- Back to normal this week
TODAY’S WEBINAR RECORDING LINK
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