SPY is still in shorts.  We did close below the PP for the day.  We did test the long but it sold off.  We have a fight over the trend.  Move  your stop to 177.07.  Friday is Mutual Fund Friday so that tells me money will be coming into the market with market orders.  We may have a pop on Friday.  Keep an eye on the market so your stops don't get jumped.  Check the ES in the morning for the warning signs. 

If we get some room to the down side we will be able to move our stop to break even tomorrow night.  We will let that run for Mutual Fund Friday and hope we stay in.  We do have two resistance points (support) you need to be aware of, 175.56 and the 171.02.  The idea is to ride this short to the 171.02. When we hit the target, take the back test of the 171.02 for a long.  

Options traders:  We are still in a put option long.  Keep your stop at 3.91.  At the end of day Friday we should be able to move our stop to breakeven or a small profit.

FOMC day,  Markets did move, but really sloppy.  We exited our second long on the SPY at 176.79 for a 9.29 profit.   Our option contracts exit at 4.84 for a 323% gain on the second half.  We reentered short on the SPY at 176.80 with our stop at 177.23.  WARNING, tomorrow if we break the 176.97 it may take out our stop.  This is a counter trend trade.  Very risky.  If the market closes below the PP (primary pivot) tomorrow we have a good chance to fall next week for a pull back for another long.  If we rise tomorrow and back test the PP then you can reverse and take it long.  Remember we are at highs and it may be sloppy.  Manage your losers and let your winners run.  Small losses and large gains.  Check the ES in the morning to see if we have moved above the ES, PP.  If we have, before the market opens, then take appropriate action.

Option traders: we went short with a put options at 4.18 today, with a stop at 3.91.  Risking .27 on the trade.  Same rules apply to you as the market moves tomorrow for reversing or holding the put option.  

Exit Option

Enter Put Option

Daily Profit Target with in 31 Ticks

Warning!!  Close all you longs if we close below the PP!  We came within 20 ticks of our target.  Look for a back test of the PP and take it short, after the FOMC meeting at 2pm EST. PP at 176.86.  It is FOMC day so expect volatility.  After the last FOMC meeting we popped until the following day.  Stick to the rules...  If you do get into a short place your stops at highs.

Choppy grind up today on the SPY.  Lock in more profits.  Move stop to 175.97. We are with in 1 full point of our target.  Keep a close eye on the market Wednesday and Thursday.  Keep your stops tight because Fed will be talking tomorrow and the market may pop Wed and Thurs then tank Friday.  It happened in the past after the Fed's talking.

Option move stop to 4.43!  That is a 300% gain to date on the second half!!

Markets were a little slow today because people are waiting for the Fed on Wed at 2 pm EST.  We will move our stops to 175.45 and lock in more profits.

Options move your stop to 4.06

SPY is moving higher.  Lock in profits and move your stop to 174.87.  Still have 2 point before we get to the profit target at 177.82.

Options move your stop to 3.76.  You more then doubled your money on the second half.  Have a great weekend!

We got another entry in the SPY at 174.63.  Looks like we are green to go. Place your stops at 174.47.  Keep the last half of the options running.  We already pulled a double hoping for more.

ES moved above its Primary Pivot overnight.  Going to take a long in the SPY on the bounce between 174.75 and 174.56. Wait for confirmation with your indicators.  If you get in put your stop at 173.87.  Do not add to your options.  Not enough room to move before we hit target.  Trade half size to the new high. Or sit on the side until a larger pull back.  Yellow light today.  Careful for the day.

Target is 177.82

Was an interesting day on the SPY.  We just went sideways all day.  We did get our stop taken at 174.16. That gave us a 7.60 points on the SPY.  Now for tonight we closed below the PP.  This is a warning that the trend may change.  The entry short will be at 174.95 with the stop at 175.40 tomorrow.  Overnight if the ES pops above the All the Way Half Way Back (AWHWB) and keeps moving higher then tomorrow we will look for an other long.  We will take the long at the PP back test when it hits tomorrow.

Now for your option players:

We entered on or around 1.50 and we took half off at 90%.  We still have the second half in the trade. Move our stop to 3.50.  Be careful with the over night.  If the market drops your stop may get jumped and you will have to get out.  If you are already out then the game plan is the same as above with options.  Wait for a AWHBS with a stop above the 61.8.

Market is still Green to go.  Move stop on SPY to 174.16 to lock in more profits.  If you have options and you have 90% or more profit , take half off and let the rest run.  Good money management is taking profits when the market is up.

The market had a great run last week so we are consolidating here.  The SPY looks a little toppy.  So lets move our stop to 173.52 and lock in more profits.  We will give it a little room to move tomorrow.  Remember it the market closes below the PP then look for an exit.

 This market is still moving.  Move your stop to 172.67 on the SPY.  If you had Dec options you are up 1.17

What a great week of trading.  Have a good weekend everyone!

Nice move in the markets today.  Moving stop on SPY to 171.12

We survived the pull back.  The SPY moved higher today.  Move your stop to 170.15 to lock in more profits.  Looking for a target of 172.94

WARNING!!! SPY closed below the PP (Primary Pivot)  Move your stop to 169.43 and watch the market tomorrow at open.  Keep an eye on the ES overnight, if the ES drops then get out of the SPY in the morning.  If the ES overnight goes up then keep your stop at 169.43.  We locked in 1.86 points.  Tomorrow is a pivotal day.

Keep an eye on your stop, the market may jump your stop if we drop below the stop in the morning. 



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