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Relief Bounce Stalls at Known Resistance- Mar 12, 2019

MARKET COMMENTARY

A review of the SPX ATM spread expiring Friday at the 2790 strike has priced at 27 points leaving us 2817-2763. We are outside the range of yesterday’s pricing so we should fade off the high edges before buyers attempt another move forward. Yesterday’s motion could have been a little bit of a squeeze. First pass bounces should fade but rangebound behavior should prevail. Buyers showed up in droves after breaching 2761 – so that will be the support line in the sand today, should we move that much. We have quite a bit of economic news and releases that will give us some minor catalysts for motion. Divergent action still present so larger moves are quite possible regions.  Markets remain volatile.  

TODAY’S EARLY MORNING WEBINAR RECORDING

Our Metastock Map for swing trades, TARGET RICH TRADES, has engaged with the test and reversal off 2799. We are going to trade around this position until it gives us more traction to add to the short. 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 

NEW LINK FOR TRADING DATA EXCEL SPREADSEET –

Please download the link for the newest data

WEBINAR LINK FOR THE LIVE TRADING ROOM FOR THE WEEK BEGINNING MARCH 11, 2019

TODAY’S WEBINAR RECORDING LINK

YESTERDAY’S webinar recording

HOW TO TRADE THIS SPREADSHEET AND TRADE MECHANICS IN GENERAL- STUDY VIDEOS SERIES

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