Follow Me At My New Twitter…

I will be relocating this blog to my new website and twitter account where I’ll be posting market commentary and option trades daily on my new twitter account @classicoptions and would greatly appreciate it if you come and follow, like and retweet as I place trades. I will leave all the resources on this blog up for anyone who wishes to continue to use and reference it. Hope to see you there, leave a comment or two and say Hi. Good luck trading!

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What Do We Have In Common…

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September 24, 2017 · 4:15 am

$RUT Bullish Chart Signals $SPY $IWM $SPX

Market breakout with higher lows and higher highs along with an RSI above 50 signaling more upside likely to come. Additionally, both the 10 and 21 MA are above the 50 SMA adding to the bullish posture. Note markets are digesting lower oil prices as a stimulus. Lower oil, higher stock market.

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$XLE . . . NEXT BIG SHORT?

Watch out for lower prices, this could get scary!

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H&S on $XLF: Bearish

More bad news…Be careful with longs. The $XLF is adding more fuel to the fire.

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House of Cards Part 2: A Trifecta…Bearish Markets $SPX

Well, now its unanimous…3 out of 3 have now crossed into bearish zones. Now what? Time to sit back and keep an eye on the market, look to see if $SPX will recapture the 50 SMA and hold above. Otherwise, we will be searching out for support below these levels. I’m looking for a bounce to occur tomorrow, but the close will tell the story.

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House Of Cards…

When all three cross below 40%, market is bearish. So far we have 1 out of 3.

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