Trade Plan for 9/20
The move on AAPL off the lows was absolutely incredible. Sure, everything was up today but coming from an apparently broken chart AAPL outperformed both QQQ 0.00%↑ and SPY 0.00%↑ today.
It has made nearly a 7% move from entry and the 225C more than tripled.
The monthly candle on GOOGL is threatening to close in that green hammer discussed in the free video. There’s a lot of month left but so far so good. Commons are up nicely and we took off a good chunk of the $160C today at open at more than a double.
Yesterday’s failed spike down from sellers really emboldened buyers as the overnight action was absolutely insane. That failed spike base, 5682.25, is what we were using as a bit of a pivot. If sellers found traction below it we could be short. The overnight session rendered this rather moot into today. Bulls CLEARLY took the blue pills from last night’s subtitle. It opened on a true gap up (above yesterdays high), held a back test after a brief excursion back below, and ran to nearly 5800 on ES.
We did see some profit taking come in today (we were doing the same) which can be expected. There won’t be a meaningful short on this market until one of the minimum requirements are met from the interview I did with futures radio. The same information can be utilized for those who are long. One can stay long (if from good location lower) until at least one of these minimum criteria are met. I’ve included the interview below.
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