**These were my thoughts on the SPY ETF to subscribers in my Daily Trade Ideas which includes many, many more charts and setups**
A wild day indeed with markets really ending flat in the end. It’s an absolute goldmine for quick day-traders but you’ve got to be very quick.
We saw some major moves from MA and V as MA was up large on earnings then faded and was hit by a new fee or something. Both V and MA were smashed and some options that were selling for only $0.24 went to $24 in a heartbeat.
You can retire on that but even if you only had 10 contract you’d pocket a smooth 24k minus your $240 buy.
Wish I’d had it.
I haven’t traded AAPL much at all lately but today I tweeted my shorts and I took two of them nailing the top twice and the low twice….lucky today ;)
The S&P remains in it’s range and that pesky $169.15 or so area remains a major pivot area.
Let’s move right into the charts tonight.
SPY had a wild ride today with several entries for short-term trades. The $169.15 area remains a magnet but I won’t hold anything until we close out of this range one way or another on a closing basis.
Seeing the Nasdaq show a failed breakout today as it was trying to lead us higher isn’t great but until we break one way or the other we remain the same.
As I like to say, the range can be traded off until it can’t.