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Well last week was tough because the market was mostly consolidating during the day. We had a few nice intraday moves but I was mostly annoyed at how sideways SPY was, plus there were plenty of patterns that just didn’t play out like our golden cross on Tuesday. Here’s the results from the day trade alerts. A lot more trades than usual because I was scalping and the range was tighter, so fains weren’t what they usually are.
I only played one SPX MWF trade because volatility is so low this week that there was never a good risk vs reward play, but by week end I finally decided to go for it since volatility proved to be low and it worked out.
Earnings trades have definitely slowed down but we did have a few and they all worked out pretty well. I enjoyed these sincethey were fairly low risk vs reward plays, and gave us a decent profit with 100% wins.
And lastly swings. I was able to close out some swings from last week, RAD worked out amazingly but gold has decided to go the opposite direction of its breakout and failed to continue, so I took a loss on that one. RAD and WFC more than made up for it though. I am waiting on gold to find support again before getting back in. And we have a few swings still open including our free TSLA swing!
All in all, day trading was tough but the other plays more than made up for it. It’s week like these where you size your day trades smaller since the market is tougher, and just wait for normal trading to resume. Swings and other plays are still working nicely.
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Looking for SPY to continue its bullish move into new all time highs. We have to be careful about where we expect SPY to find support and resistance. Today’s action was choppy as SPY consolidated but still bullish. Check out the video for more
Had a pretty good week last week, market was pretty boring though until Friday. With the market going up so high it’s surprising how many put day trades we made but they were mostly profitable. Most of the lift happened overnight so we were playing pull backs. Maintaining an above 80% win rate with two over 200% plays. Here’s the day trades:
We only did a couple SPX MWF plays because volatility is super low right now, but we had the Fed FOMC meeting day to play a nice iron condor. I also played a butterfly but it did not go as low as I expected, so I took a small small profit when I had a window to do so.
We have a few swing plays still holding, looking forward to new market highs!