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08/01/2022 Watchlist Chart Monday Watchlist – August 1st On Friday, $SPY ran up to test the 413-414 resistance zone but then rejected and closed below. Expect weakness if it cannot hold above that zone, and strength above. We are personally anticipating a profit-taking period before any further runs and holding that SPXS position mentioned…
07/28/2022 Watchlist Chart Thursday Watchlist – July 28th After we’ve mentioned that bearish divergence was thinning and that GOOGL would help push up the markets, SPY managed to open up above that 390-393 zone and run all the way to the daily 1.618 level (402.8) and reject. With this run-up, a widening of the…
07/26/2022 Watchlist Chart Tuesday Watchlist – July 26th On Monday, $SPY was rejected right at the 0.618 level (at 397.3) and well right back to test the 390-393 zone. Some decline after hours due to Walmart’s warnings on profit outlook. Algos and net premiums remain bearish, with more direction to come from earnings releases…
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