Friday, May 15, 2015

May 15 - OPEX grind, sell signal on SPY 1 hr, 2 hr frames

Hard to read much into today's activity.  Just lots of grinding and tugging because of OPEX.  Decided to unload SPY longs and wait for potential pullback or consolidation as we have CCI/ stoch sell signals on a range of frames from 30 min to 2 hr.  Who knows we might break up and out next week or today but going to play it safe as past history has meant we have some kind of pullback.

VIX hourly posting buy signal and this has generally triggered SPY sell offs in the short term.  That said, I am expecting one of these signals to fail as we have been consolidating for quite some time.
Sell signal on hourly.  For bulls, the best case scenario would be to see some sideways consolidation to base for a move higher.

When the 2 hr triggered a sell, that made me rethink my long positions.

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Jan 20 - Equities caution signal, short SPY, NFLX

Call buying has come back and very good chance of a pullback here