Wild! Will SPY rally after the deep dip, or dive again? Trade Ideas for Fri Oct 17
Sorry no video lesson today. Short on time. I’ll be trading first 2 hours and then heady to waterfall, hot springs, and mud baths. Then back to work on the newest version of Edge which combines by whole trading process into an easy to use planning and banking interface!
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.
Plan for Fri Oct 17
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.
Premarket Setup: Watch for failed breakdowns below 661.19 pivot amid choppy recovery signals.
Market Context
SPY’s been on a rollercoaster lately, folks. After that brutal plunge on October 10th where it tanked from highs near 673 to lows dipping to 646, the ETF clawed back some ground over the next few days, hovering around 660-670 by October 16th’s close. We’re seeing choppy consolidation with a slight bearish bias from the premarket data, where prices opened around 652 and are testing early supports. The overall pattern looks like a failed breakdown reversal setup—SPY bounced off multi-day lows around 653 but failed to hold above the 661.19 pivot, suggesting sellers are probing for weakness. Volume spikes during those drops hint at exhaustion, but with no strong bullish conviction yet, expect range-bound action unless we get a clear break. As your lazy momentum trader buddy, I’m eyeing those failed breakdowns for quick reversals—because who wants to chase a falling knife when you can snag the bounce?
Key Events Today
No major economic releases or Fed speeches on the calendar for October 17, 2025—markets are digesting last week’s volatility without big catalysts. Keep an eye on any surprise earnings from big tech names or geopolitical headlines, as SPY often reacts sharply to those. Otherwise, it’s a quiet day for macro data, so focus on price action around the pivot for intraday direction.