SPY 2 hr hitting the upper end of RSI which has triggered sell offs without fail in the past 4 months.
Thursday, July 16, 2015
July 16 - Inflection point in SPY
Still holding the puts from yesterday and waiting to see how we close. We are right at resistance in SPY. QQQ has broken out but DIA is printing a reversal candle and VIX is retesting a low where it has always bounced back up. Potential sell signal on the daily coming close to appearing.
Call buying has come back and very good chance of a pullback here
Probably 2/3 of the options account is in banks. Maybe 1/2 regionals and 1/2 XLF, C, BAC. Expecting another run up in equities into Augus...
Jun 10 - More bullishness but when is the pause/ pullback coming? Currently long C, BAC, DAL, JBLU, MARK, IGT, PYBI, FDXI botched my financials short trade and didn't close them the day after when I was up 70% and ended up taking a 50% hit the next day. F...