SPY broke cleanly out of its previous trading range. The red dotted line is a key area as it represents the opening of the huge black candle in early May as well as filling the open gap down that was left over in early May.
Now the VIX has held the red support line. At this point I would think a trip to the lower BB is in order before finishing the market rally.
A lot of call purchases in equities AND indexes relative to puts. This is strongly contrarian. For the short term there maybe a pull back before new highs.
BPSPX:CPC was sharply positive again. Shorts are going to be squeezed a bit more. I dumped a portion of my quarterlies for a loss and rolled part of that into October.
SPY broke cleanly out of its previous trading range. The red dotted line is a key area as it represents the opening of the huge black candle in early May as well as filling the open gap down that was left over in early May.
Now the VIX has held the red support line. At this point I would think a trip to the lower BB is in order before finishing the market rally.
A lot of call purchases in equities AND indexes relative to puts. This is strongly contrarian. For the short term there maybe a pull back before new highs.
BPSPX:CPC was sharply positive again. Shorts are going to be squeezed a bit more. I dumped a portion of my quarterlies for a loss and rolled part of that into October.
