A look at the SPX spread expiring Friday at the 2750 strike sits around 35 points leaving us 2785-2715 as we sit in the middle of the range amidst the weak data. First pass bounces should fade but rangebound behavior should prevail. A failure to recover 2761 still poses a threat to buyers. Divergent action still present so larger moves are quite possible regions. Markets remain very messy and are quite volatile.
Please use caution with size and try to be patient.
Our Metastock Map for swing trades, TARGET RICH TRADES, is now looking at the lower high of 2803-2799.5 to reject and engage short on the swing. Divergence and defense of overnight lows tell us buyers still sit below. 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- Not active while at SxSW this week
TODAY’S WEBINAR RECORDING LINK
All user and member participation with TheTradingBook.com implies agreement with our Terms & Conditions