Bears in control, but will we bounce this week. Will SPY reverse today? Trade ideas for Jan 13, 2024
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Good morning traders !
What a day on Friday! I wrote that if 585 breaks followed by a 580.50 break, we would see 578-576. We got 578.50 on Friday, and this morning we are getting the gap down I was talked about with THT Pro members into 576
Friday Highlights
SPY - broke 585.20 and flushed to 578.50 pushed back toward 585 and failed again.
TSLA - chop between 388 and 399 again.
COST - perfect dip buy thesis for possible 10-20x gains
Monday Premarket Highlights
SPX is at 31% IV. ( i usually want to see 12-15%). so today Credit Sell trades may be the way to go once it starts to bleed out.
SPY - gapped down and test 576 dipping as far as 575 and since bounce back into 577.
TSLA - gapping down to 383
AMD and NVDA - gapping down a little and looking weak!
BTC - broke 92k
MSTR - gapping down to 312
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Introduction (for New Readers)
Welcome to my blog on Two Hour Trading—your daily source for market insights and trading opportunities. Here, you’ll find comprehensive market analysis, educational lessons, and trade ideas to help you excel in trading, all while spending less than two hours a day.
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Subscribers receive daily market analysis updates, educational content, and up to three trade ideas each morning based on real-life examples and my trading approach.
NOTE: screenshots from chat are from Edge Trade Planner. A platform available to THT PRO members. Join Us for live commentary and planning. Note my goal is to actively trade less than 2 hours a day finding 1 to 4 great trades a day.
What is Two Hour Trading?
Two Hour Trading is my system for finding and executing trades while spending less than two hours a day trading. My goal is to earn 100-300% on the capital I risk while waiting for 1000%+ gain trades to set up. Key benefits include:
High-quality trades with excellent reward vs. risk
Avoiding overtrading and losses from it
Trading to win vs. trading not to lose
Stacking the deck in your favor
2025 Q1 Alert Leaderboard
Here's a look at some of the potential gains achieved through our entry alerts:
2024-01-02 SPX 5880p 11 to 40+
2024-01-02 SPX 5820p $2 to 10
2024-01-03 SPX 5930c $2, dipped to $3 and ran to $11
2024-01-06 SPX 5980p $1.70 → $20 ($1700 to $20k potential)
2024-01-07 SPX 5900p $0.50 → $11 ($500 to $11000 potential)
2024-01-07 SPX 5930p $5 → $17.4 ($5000 to $17400 potential)
2024-01-07 SPX 5930p $5 → $40 ($500 to $4000 potential)
2024-01-08 SPX 5800p 1/10 $4 → $10 ($400 to $1000 potential)
2024-01-10 SPX 5800p 1/10 $4 → $10 ($400 to $1000 potential)
**Past Performance is not indicative of future results
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Trade Recap for Wed Jan 8
GOLD BOLD ITALIC = price action signal
WHITE REGULAR = action to take/taken
GREEN REGULAR = trades I should have taken
SPY / SPX
Were you able to spot the signals?
Comment on how you did.
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Education - How to Join a Strong Trend
The process I typically follow for joining a strong trend are as follows:
All day grinder: join on dips to 20ma
Multi-day grinder:
Join either on support test of morning lows/failed breakdown reversal
Join at vwap mid day or end of day
Keep it simple. Don’t chase, wait for support levels for great risk/reward entries!
Education - Systematic Profit Taking
How do I take profits? I keep it relatively simple. Depending on the entry and range to the next levels I typically with take profits 50-100% of my profits at 3-10R and then raise stops to above entry with a goal of letting runners take me to the next level or 2 and to then reload if I believe we are consolidating before the next leg.
I then repeat the same process on the reload.
Let me know in the comments if you have questions or would like to see examples, I’ll share them.
Trade Ideas - Plan for Monday Jan 13
Stick to process. The process and trade setups I teach works. Rinse and repeat over and over again. There will be losses. Any good system will have them. Being systematic also means the gains will repeat and come again too. If you keep changing your system/process trying in an effort to never lose a trade, you will never get to where you want to go.
Ideas
IV is seriously spiked again.
Ideally looking for gap down reversals to setup.
Read on for my thoughts/plans…