Reiterating that this weekend’s price increase will NOT affect current subscribers. You are locked in for life. I continue to get questions but no future price increase will affect current subscribers.
The full weekly plan and commentary should be reviewed ahead of this post and can be seen HERE.
Last night in the free section on SPY 0.00%↑ I suggested that bulls had defended a key area at yesterday’s low and that sellers would need to take out yesterday’s low or I would expect a rally to 5087-5100. Futures traded immediately higher and tested 5090 overnight before selling back down. Sellers were only able to trade 6 ticks below yesterday’s overnight low, and the result was yet another rally, this time to 5100.75 during cash hours and ultimately 5118 after hours on AAPL 0.00%↑ earnings.
Many of us had swung short overnight from 5120s entry after taking profit on the way down yesterday. This morning in the Discord I suggested that I would be looking to short the inside gap up for another trip down and had shorted it premarket. The area of interest was 5086.75-5090.5 as a look above and fail of yesterday’s VAH.
We covered most of our positions at low of day and hedges were suggested for the remainder of the swing.
This was a nice nearly 50 handle day trade for those that weren’t swinging, and a nice bonus trade for those who were. Any remaining swing short could be hedged or take trailing stops in profits from there. There are numerous ways to manage risk on a swing and I try to provide various methods for you to consider.
QQQ 0.00%↑ once again held the bottom of its box. These boxes have been an absolute money printer to those following even in the free section.
The AAPL 0.00%↑ move has helped to position bulls for a breakout. I had been forced to flip neutral once 5030s held again and thus I will be fully reactive tomorrow with day trades. Bulls aren’t out of the woods, but are very well positioned to make an attempt to press higher. We have NFP, PMI, and ISM in the morning so all of this can change easily.
Seats are once again available for Trading Doggy Style school. Learn more here: Learn it For Yourself
The first 5 parts in my free series explaining some basic profile concepts is now available at www.pharmdcapital.com. Click PharmDCapital This section and other free material will be added to over time. Scroll down to the “Want a Taste” section to read it.
To learn more about how I trade, see the post “What is Trading Doggy Style” Here
-For those that trade SPY/SPX, there is an ES to SPY/SPX converter in Tradingview. See announcements in the Discord.