Bear Flag vs Bull Trap
Last 2 weeks have been bearish through APPL and TSLA earnings. Attention now turns to Amazon earnings (feb2) as they teeter on oversold RSI and below 2yr support. Not regaining this support from bad earnings will likely see this S&P bearish flag breakout to the downside.
Canadians wielding pitchforks and torches, Russia and nato saber rattling and China facing off with covid olympics, I’m not feeling too bullish this week.
There were some positive flows in futures Friday morning that ended with a strong rally to end the week in a better position for a gap up Monday to lower negative gamma range above 4475 and a floor of 4400.
Gamma Exposure (GEX) from SPX options tool I created on my website. Head over to https://www.spyvsgme.com/SPX for delayed quotes (15-min delay from CBOE). I’ll be adding more information as I create more options indicators going forward.
I’m going to be cautious and enter a short below 4300 on heavy selling, otherwise I think the market waits for AMZN earnings for guidance in the 4475-4400 range.
Not a very high likelihood of this bearish flag playing out, but with all the damage done to markets the last 2 weeks I’m staying mostly liquid and riding the waves up and down.
>>Not Financial Advice.<<
I have never solved the rubik’s cube.
Canadians wielding pitchforks and torches, Russia and nato saber rattling and China facing off with covid olympics, I’m not feeling too bullish this week.
There were some positive flows in futures Friday morning that ended with a strong rally to end the week in a better position for a gap up Monday to lower negative gamma range above 4475 and a floor of 4400.
Gamma Exposure (GEX) from SPX options tool I created on my website. Head over to https://www.spyvsgme.com/SPX for delayed quotes (15-min delay from CBOE). I’ll be adding more information as I create more options indicators going forward.
I’m going to be cautious and enter a short below 4300 on heavy selling, otherwise I think the market waits for AMZN earnings for guidance in the 4475-4400 range.
Not a very high likelihood of this bearish flag playing out, but with all the damage done to markets the last 2 weeks I’m staying mostly liquid and riding the waves up and down.
>>Not Financial Advice.<<
I have never solved the rubik’s cube.
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