NFLX ($313.06): over/under 310 set up; over/under 315 set up — 315 in play on the over/305-300 in play on the under; 320′s in play on the over with 313-310 in play on the under. Huge momo on Tuesday that, if it is going to continue, will see NFLX do 1 of 3 things:
1) gap up and not go below its opening price by much then break 315,
2) gap down and reverse right away and go red to green,
3) open flat and churn between 312-315 setting up afternoon break and run/open flat and break 315 right away.
Park resistance at every $2.50, so… 317.50, 320, 322.50, 325, etc… If NFLX goes red and stays red then that will hurt inflated premiums and create a headwind for further advances.
SPY ($168.87): over/under 1,685 — 1,690′s in play on the over/1,670 back test in play on the under. XLF over/under 20.35 (8/14 low) is also a reference point on the 1,690′s/1,670 back test market outlook.
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