INDU is at double or triple bottoms, we shall see some oversold rally. The stop can be placed below current support level. The next support level is around 10,200.
Tag Archives: Rally
QQQ, RUT, SPX and INDU
QQQ, RUT and SPX are all at or close to their 52 week high. The only exception is the INDU, which is breaking out from its downtrend line. Today’s rally were wide spread, but the volumes were at about average levels. Whether or not the overhead resistences can be taken out it remains to be seen in the comming days. As the election was over, traders and invetors alike move their focus back to routine aspects.
The vertical spread on QQQ Nov calls opened a while ago has increased its value to 0.85 or 100%. If the QQQ stays above 37, it can reach maximum profit of 1.15 or 135%.
SUNW
SUNW is approaching its major resistence once again. The volume is decent, maybe this time it can break out from 4.5. However, I’m selling into this rally. Sold covered calls on my long term position.
ES
Despite talking of year end rally, I shorted ES at 1087.5 today. Covered yesterday shorts at 1086.
ES
Despite talking of year end rally, I shorted ES at 1087.5 today. Covered yesterday shorts at 1086.