{"id":7802,"date":"2017-03-30T09:25:43","date_gmt":"2017-03-30T13:25:43","guid":{"rendered":"https:\/\/trades.iwopremium.com\/?p=7802"},"modified":"2017-03-30T09:25:54","modified_gmt":"2017-03-30T13:25:54","slug":"proactive-spreads-march-30th-2017-fdx","status":"publish","type":"post","link":"https:\/\/trades.iwopremium.com\/proactive-spreads-march-30th-2017-fdx\/","title":{"rendered":"Full Time Profits, March 30th 2017 – FDX"},"content":{"rendered":"
<\/p>\n
After the Monday gap down, things have settled down a bit and buyers stepped up pretty well.<\/p>\n
Now the current level of the market (2350 on the ES Futures) is a pretty key level we should watch. It was big support from earlier this month, and coincides with a few other technical levels– the 20 day moving average, the rising channel we broke out of in Feb, and it’s about a 50% retracement.<\/p>\n
What’s key here is the nature of price action around this level. Simply put, the longer under this level the higher the odds we see another leg lower. And if the market gets enough steam to clear it then buyers are back in control and the uptrend should resume.<\/p>\n
We’re coming into earning season which will bring a little more volatiltiy into play. At the time of this writing LULU is off 20% from bad numbers. Hopefully this kind of volatility will stick around in a lot of stocks as it affords us very nice spread sale opportunities.<\/p>\n