I’ve done a full video analysis about the market and what I think will happen in the near term.
I highly recommend, if you haven’t yet, to watch the video. Start there, take some notes, and then go into the trade setups.
Click here to watch the video.
We have a TON of put spreads that have triggered, so we’re not focusing on any new longs until those unwind.
Trade #1: SPX
Don’t want to be over eager selling into call spreads. The first round of shorts will get runover, so we’ll have an ambitious target before we put on some short exposure.
Trade Setup
Expected Price: 2852
Sell to Open SPX Nov 2945/2950
Tier 1: Enter at 0.70, Exit at 0.20
Tier 2: Enter at 1.00, Exit at 0.50
Tier 3: Enter at 1.30, Exit at 0.80
Trade #2: GLD
Gold probably bottomed here. Looking for a retest of the breakout level.
Trade Setup
Expected Price: 115
Sell to Open GLD Nov 113/110 Put Spread
Tier 1: Enter at 0.40, Exit at 0.10
Tier 2: Enter at 0.60, Exit at 0.25
Tier 3: Enter at 0.80, Exit at 0.45
Trade #3: SMH
It’s very possible semiconductor stocks have put in a long term top. I want to play the retracement up into previous resistance.
Trade Setup
Expected Price: 102
Sell to Open SMH Nov 107/112 Call Spread
Tier 1: Enter at 0.70, Exit at 0.20
Tier 2: Enter at 1.00, Exit at 0.50
Tier 3: Enter at 1.30, Exit at 0.80