There is quite a bit of green in both European and domestic markets right now. What I’d be on the lookout for here is a short term dip at or near the open. This would actually be welcomed as provide for a better entry!
Now, Wall Street be looking for that today and would trade a buy to open followed by sell to close call option strategy keeping in mind that SPY $290 must hold (or no calls) and SPY $292 is thick resistance.
It’s important to note that if you’re comfortable with charts and trading on your own you don’t need to wait signals like these, but should this trade setup take place ideally applying an Inverse Head and Shoulders within the first hour of the trading session then jump into it. Options do move fast so we need to keep that in mind when it comes to time sensitivity. If not within the first hour Wall Street will be still waiting and I will update you later today as markets play out!
Resistance: 290.87, 291, 291.42
Support: 290.76, 290.50, 290
Today’s Trade of The Day is SPY October 14 291 Calls
