SPY Trade Ideas for Thu Jan 22 - Will this gap up get sold?
Our Bull Puts and Bear Calls paid! AlphaOS is making Credit Selling and directional bets easy. We had our first credit sell lost! But quick flip into directional calls paid 500%!
Wow what a day. We had great range and the first 3 credit sell trades paid!
Then it appeared like we might get more selling and I positioned for fade into close but market quickly ripped. This was actually a great benefit to where I positioned with 3500 credit. stopped t 4500 debit when trump’s announcement came!
That is 100% ok. we collected over $2 in credit so losing $1. ate half the gains. Still profitable for the day a flip into 6900c at $3-4.50 ran to $15 (just shy of final $20 goal)
We didn’t the the primary idea dip on 676 for a long, but based on price action I took 2 sets of bull puts early assuming a bounce one come. 1 right at open and the other after seeing vwap hold and cross hod using AlphaOS. made it easy. both went to 0 by end of day and 0.20 or less by 11am!
We then reached the 685 short idea level and I took bear calls that also went to 0.20 :)
The 4 credit sell I took after vwap double top rejection came. The move over was unexpected. Instead of panicking about the loss, I focused on will this continue and where will it go. The levels indicate 6920 and what meant we had 40-50 points more of room!
AlphaOS also showed Volume - HP Trend signal. That means High Probable Trend kicked off by volume! Does your charting tool tell you that?
Today we are gapping up into yesterday’s 690 level target? Does the bid continue?
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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Plan for Thu Jan 22
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.
SPY Traps: Dodge Breakdowns, Nab Reversals
Premarket at 689.73 holds pivot—watch failed drops to 683.7 for quick wins
Market Context
SPY premarket closed at 689.73 after ranging 688-689.2, sitting above the 683.7 pivot and key resistances at 691.52. Last 5 days show choppy action with multiple failed breakdowns below 683 and reversals off 678s lows, plus volume spikes at 680-682 bounces. Bias leans range-bound with downside risk to supports if 683.7 fails, upside potential to 691.52 on hold.
Key Events Today
8:30 am - Initial jobless claims (Period: Jan. 17) - Forecast: 208,000 | Previous: 198,000
8:30 am - GDP (first revision) (Period: Q3) - Forecast: 4.3% | Previous: 4.3%
10:00 am - Personal income (delayed report) (Period: Nov.) - Forecast: 0.4% | Previous: 0.4%
10:00 am - Personal spending (delayed report) (Period: Nov.) - Forecast: 0.5% | Previous: 0.4%
10:00 am - PCE index (delayed report) (Period: Nov.) - Forecast: 0.2% | Previous: 0.3%
10:00 am - PCE (year-over-year) - Forecast: -- | Previous: 2.8%
10:00 am - Core PCE index (Period: Nov.) - Forecast: 0.2% | Previous: 0.2%
10:00 am - Core PCE (year-over-year) - Forecast: -- | Previous: 2.8%
