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Best Options Setups Weekly w/ Price Action Notes
There are 3 setups this week: An Energy Long, New Value Play and a Short-Term Momentum Trade for OPEX
Friday the market held the lows pretty well off a key technical level that Dan talked about in this weeks webinar and podcast which is below. He also talked about his views on why he thought the $SPY ( ▲ 0.1% ) had one more rally left in it to the year and why we saw the type of earnings season selling we had so it’s worth the watch for everyone even those that read this who are not members.
I think it starts at 8:00 or so where he discusses the sell off and views on the rally.
Then this morning there was news that Trump is going to kick out $2,000 dividend checks which is basically 2000 all over again and I am sure that is going to be positive sentiment for the market here plus this is OPEX for November this week.
We’re going to need to hold this lows from last week on $SPY ( ▲ 0.1% ) and then get above $675s which should give us a little trouble and depending on what we do on OPEX here this week we may pin around $680-$685s but for now $660s look good as support with $665-$668 area being key to start this week.
I am going to get into one OPEX trade on a tech name that I like and then talk about an energy name I already am in and will probably add into this week then finish with a value long that came in off the highs after earnings.
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