My own analysis is 1280 on SPY. Tons of calls and puts at that level. Do not forget about the gap at 1285 on the S&P.
Yes that's what I refer to as the beginnings of a H&S. However, I would hold off trading it till I saw more of a decline, at least to the 8.75 level. I guess I more conservative. Hope it works. Alex
This trade is based on the pattern, the fact that there is a gap up, where this level represents on cash, and the fact that i am bearish on MWF especially this Friday as I forsee people lightening up longs until monday passes.
Meet me in the trap its goin down Meet me in the mall its goin down Meet me in the club its goin down Any where ya meet me guaranteed to go down
I hope you are wrong on the LOD. That will end up right in the middle of my trade. But I will keep my eyes on it. Thanks for the warning.