SPY - We are short SPY overnight and looking forward to tomorrow. We shorted SPY on the opening gap up today when it rejected the 50sma and set our target goals. If you follow @camar024 (me) you’d notice I set goals for my trade. I said target 1 is 141.75 and target 2 is 141.30. Failure to close under either of those levels wouldve made me sell my position. But SPY did end up closing in the 141.30s and went to plan so I held my puts overnight. Target for tomorrow is $SPX 1400-1404 range. Which should coincide with support around 140.50 on SPY. But looking at the daily chart for SPY this is a very ugly way to start the month of December. Its right at the 8ma and 100ma in after hours trading. Be cautious. Something else to note is the light volume today. Lowest on a red day in quite a while.
FB - What goes down must come up then head back down??? FB Was killed today after getting rejecting by that 29 level. Why did it stop at 29? Look at 100day chart and view the range from 7/17 -7/25 and you’ll see why it stopped at 28.88 today. Looks great for another short tomorrow – it closed near the lows. Looking to short a gap UP tomorrow on FB. If it gaps down- i wont play it.
CRM - Holding up relatively well. The bull flag is still in tact and the volume has been light on the red days. I like the r/r here looking at monthly calls here 160 strike. Stop loss is clear and defined at 155.00 and target would be a break above 160 before expiration.
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