Below is the chart for SPY and what I was thinking when I was looking at it:
So todays candle tells us a lot. That gap down is pretty serious and the top tail tells us that its a top candle, there is plenty of room to drop:
My in:
So if this goes the wrong way tomorrow, or if there is a jump up, I always have the ability to double down.
Now you may notice that the option price is a bit pricy. I usually dont go with the crowd , for example, I should have bought yesterday. But after looking at the chart, I foresee more carnage for the next several days.
Tradinginsider
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