Monday's Entire Rally Destroyed! - Trade Ideas for Tue Mar 3
Premarket bounce tests key supports—watch for reversals!
We had a another solid day of credit sells, but my bear calls kept getting stopped util my final on paid from $3 to $1.20. Good thing i had that take profit in there! The trade easily covered my stop losses and protected me from the final squeezer!
Needless to say the gap down reversal plan from yesterday was textbook and almost perfect. it missed the goal entry by 0.50-1. but we had so much room on upside could get a starter. unfortunately no dip to scale in!
As for today. 672 and 674 will be ket to watch!
How to use AlphaOS to recognize shift in momentum
Process = Profits
Lately I’ve been doing the following:
Premarket establish where we likely wont reach. Sell premium for 0.8-0.60 on open.
After 11: second positioning of credit sells.
After 3:30: start hawking/planning for a Spectre Special
What’s a Spectre Special? A yolo trade that goes 300-1000% in under 30 min.
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SPY Traps: Survive 674 Breakdown Today
Premarket bounce tests key supports—watch for reversal edges.
Market Context
SPY premarket closed at 674.66 after ranging 672.20-679.72, showing volatility with multiple failed breakdowns below 674 and quick reversals on volume spikes. Price sits just above S1 at 674.11, with bearish bias from recent 5-day lows near 672 but bullish divergence on 1-min volume at lows. Overall choppy action favors failed breakdown reversals long near supports.
