SPY Trade Ideas for Tue Feb 3 - Back to highs, will it reject?
What a rally out of the gate yesterday! Missed the bull puts I wanted, but eventually we joined long for nice 50-150% gains. Did you catch it?
Yesterday I alerted I want SPX 6980/85 bear calls for 3.50-4.50. It popped to $4+. and went to 0. imagine collect $4000 credit on $1000 risk! Perfect plan for a pop past 6980 and dip before the close!
I also wanted 7010 bear calls but never got juiced enough to be worth it and chased 6960 bull puts for 0.50 and exited at .05. Hate using 5k capital for $450 collection but it’s “free money” and I followed process.
Let’s see what today brings us!
On a side note I alert commons buy on Friday for SNDK at 545. Holy smokes Batman! Right back to 680+ the very next day!
(I don’t alert commons buys often, but when I do its usually when I see no brainer swing / positional trades).
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.
FREE LESSON on catching eod exhaustion
If you are tired of overtrading, not knowing how to plan trades, and want to make more in less time, come join us.
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
If you are busy and want to see my commentary and ideas in real time consider joining THT-PRO.
SPY Survival Guide: Dodge Traps, Grab Gains
Premarket holding steady near pivot—watch for failed breaks amid key data releases.
Market Context
SPY premarket close at 696.92, sitting just below pivot at 692.29 with tight range action over last 5 days (low 684.83, high 698.35). Price shows choppy consolidation with multiple failed breakdowns below 690 and reversals at 695-697, suggesting bullish bias if holds above supports. Volume spikes at 687-690 levels indicate strong interest for reversals.
Key Events Today
9:45 am - S&P final U.S. services PMI (Period: Jan.) - Previous: 52.5
10:00 am - Job openings (Period: Dec.) - Forecast: 7.1 million | Previous: 7.1 million
10:00 am - ISM services (Period: Jan.) - Forecast: 53.5% | Previous: 54.4%
