SPY war rally fails - Trade Ideas for Mon Mar 9
One hour of action and all day consolidation -- What does it mean? Spectre AI nailed the reversal long off 680!
Apologies everyone, I overslept Friday. That said, woke up quickly and my selected bull puts went to 0. The rest of the day was a bit trickier. SPY to recover but 676 turned into a monster ceiling and was tested over 6 times. I told members that I like SPX 6600p for next Friday. They were super expensive at $56 but hit over $120 in premarket today. The better way to have played that would have been to looking into a debit bear put spread or even swing some bear calls. I will need to add that to my process to take advantage of STRONG ceiling price action.
As for today. this is another Sunday with a 2 level gap down. Process wise, we should be looking for a long. That said, if we push and fail, and establish a ceiling like we did on Friday, we could get a sell program.
Keep an eye on gap fill and 669.50 levels.
Let’s see if today high probability idea plays out.
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 Pivot Trap: Survive the Open
Premarket bounce tests resistance - watch for failed breakout
Market Context
SPY premarket closed at 665.30, up from yesterday’s close of 672.23, sitting above pivot at 661.37 but below R1 665.95. Data shows choppy action with PMH 668.36 and PML 661.72, recent 5-day range 661.72-688.62. Bias leans neutral to bearish after rejection near 668 with volume spikes, positioning for potential failed breakout above R1 or breakdown below pivot.
Key Events Today
No major events scheduled today, potentially leading to range-bound action.
