There is some positive divergence showing up on the SPY chart, so I expect some kinda sideways action or a bounce. Regardless of the outcome, I am planning to exit all my trades by EOD.
Here are some possible scenarios for the day....Rule of thumb is...if there are more calls -"most likely the stock will sell"...if there are more puts - "its likely the stock will bounce".
AMZN is still an interesting play depending on the sentiment of the market. There could be a bounce if we analyze base on A-B-C price pattern to 78. Of course the other outcome is for this stock to go sideways. Watch out for 66.84 if support breaks.
IWM is clearly heading down now, just planning to follow the flow.
Im neutral on JPM, here are some possible scenarios.
Im trying to stay focused on as few stocks as possible...because I know I am no SUPERMAN. As you might have noticed.....I did not include any commodities. Well...I think everyone is waiting for more clarity on the direction of the dollar.....Crude Oil no doubt is down...but ...you know I don't like overnight trades.
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