Actionable Trade-Alert
from Rick in the Trading Room
(Please check all related discussion in the room before you do any trades.)
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12:51 |
Don’t look now, but today’s high in ES has gotten with less than one-tenth of a percentage point of a very major target at 5165.25 on the weekly chart. The very sausage-y ‘B’ high makes the target unreliable, but not so unreliable that the futures will easily surpass it. Thee is no way that can happen. Let me see if I can find a suitable opportunity using SPY puts. Here’s the chart: |
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12:51 |
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12:57 |
SPY’s weekly chart still has a ways to go to reach a 520.54 target. The initial move through p=464.88 all but guarantees D=520.54 will be reached, so there is not much risk in waiting till it gets there before buying puts. Here’s the chart: |
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12:57 |
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