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Monday, October 19, 2015

Tuesday and Wed. Forecast

Well it looks as though we are in a decent uptick climb. Lets look at the chart below for SPY:

The Aroon indicator isnt showing anything for a few days, and the candles themselves are showing a strong continuation for at least 2-4 more days. While the ADX (bottom indicator) is in line for a reversal as the thick black line of that indicator is below the value of 20, it does not mean that it will immediately happen...look at August 1-18 with its value below 20 (indicating reversal coming) for 18 days.
At this point seeing that we are near the top of the range I will be buying call options and dumping them the same day before close..purchasing at the money.

See you Tues Morning.

Tradinginsider

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