Jan 18 2019 - Friday Watchlist
Here’s the option plays on watch this morning:
Two words. Blindly bullish. With the government shutdown, current political climate, multiple consecutive green days, and more.
The 50 dma crossed under the 200 dma on Dec 7 2018 which caused the beginning of a major move down.
Yesterday, Jan 17 2019 the 100 dma crossed under the 200 dma. SPY also rejected the 50% retracement level. Both of these indicate another major move down in the near future.
There are multiple sectors that are ripe for a support test and breakdown. These wedges and channels align with SPY as a whole. Remember… The trend is your friend.