A review of the SPX ATM spread today at the 2790 strike has priced at 30 points leaving us 2820-2760. Expiration usually increases volatility intraday but bullish pressure shows. We sit above these edges in the premarket. Markets remain volatile and crosscurrents today make the environment much different to yesterday.
Our Metastock Map for swing trades, TARGET RICH TRADES, has stopped out early in the midweek. We will re-engage this position if we fail the test of 2813.5 next week. The stop will be 2824.5 We are going to trade around this position until it gives us more traction to add to the short. Near term supports sit at 2791 and 2786, our initial targets. Divergence and defense of recent 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
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