ES is near it's topping zone and next week is OPEX so this topping zone will be chopping both bears and bulls.
I am keeping it very small here as I don't want to get frustrated and get myself in this chopping.
Good luck.... Stay either on sideline or keep it very small.
LOL!! That didn't take long.. here's the updated chart 1098.50 is broken now I am expecting more upside and possible new highs.
ES did not make new high today (So far) below are the charts to consider this as bearish tape. with line in sand 1098.50 if at any moment of the day before 4:00 PM we break 1098.50 we could get new highs.
If we respect the 50% RL and hit our -23.6% we could expect to put new lows around 1088
***Trade Alert***
Short QLD via Vertical PUT spread (Long Dec $52.00 Puts / Short Dec $50.00 Puts) @ $0.55
Max possible profit $1.45
263% Return
Long PALM Via Vertical Call spread (Long DEC $14.00 call Short $16.00 calls) @ $0.37
Max possible profit $1.60 400% return.
Short STI Via Vertical PUT Spread (Long Dec $20.00 PUT Short $18.00 PUT) @ 0.55
Max possible profit @ $1.45
263% return.
Short ES Via Vertical PUT Spread (Long Dec $1095 Put short $1090 PUT) @ 2.00
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