Recent content by spxoptions

BTFD-ers getting what they deserve. Did you think the market would just ignore the technical damage done 2 days ago..

Breaking the major trendline (nov) around ES 1660 resulting in waterfall sell off afterwards

+1

I agree 100% with your chart.

Just waiting for the other shoe to drop.. bulls are being lulled into complacency and aren't properly hedged for the risks ahead. I still think we could see SPX 1575 within the next 10 days.

I don't see support there either. People are still talking about a bounce to 1675 the rest of the week, but I don't see a positive catalyst for that to occur.. Also, the potential of missiles flying in the Middle East doesn't jive with a bullish move.

+1

I thought the next big down leg would happen after month-end window dressing and NFP, but the Syria wildcard could be the catalyst to make your statements very true. I also agree 1600 will be retested and probably much lower to 1450 or so.

+1

Future options have much lower margin requirements on these spreads.

Never noticed the zoom feature on 'Active Trader' tab. Good stuff. Thanks for sharing ammo!

nice trade trvl! what's your target for the other half? 63, 61?

Also, VIX signaling more volatility?

I have 3 trend lines converging at SPX 1650. If this level breaks, wouldn't we sail past the 50ma and 1600?

I'm with you ammo. Check out this megaphone pattern setting up. If 1650 breaks, this market has a long way to fall.