Good Morning. So says day 44 on TOS this morning. Not sure why that is. Maybe an update.
- 200/50 Moving average downtrend. May indicated a major down trend. But remember, when this a happens, it often, goes back and forth, before a major break down. But is a hint. I have purchased a Sept DIA PUT. Just in case. Protective Put against a major break down.
- 10/20 or 10/30 upgrading. A breath of up trend.
- Major support and resistance is holding. 1950 or 1900 on the bottom. 2050/2100 on the top. Kind of moving sideways in this area. But the overall direction is down. Hitting resistance at 2050.
- Today looks like a hammer, but can change. after an uptrend, singles a down trend. But at the upper one third of the previous day. So my be profit taking.
- Overnight action. Asia mixed. Europe down. Today day should be a slight down trend but could be choppy.
- Took positions right away. VPUT 1550/1500 at 1.6. This is a 50 dollar spread. so 1 contract is 5k.
- Took position at VCall 2350/2360 at 35 cents. 5 contracts. So the top and bottom match in terms of money amount.