Feb 8 2019 - Friday Watchlist
Here’s this morning’s options on watch!
SPX / SPY
Watching that SPX 2680 support and the channel below it. If it bounces of that level, we'll see higher. If it falls, we'll test the bottom of the trend. (test bounce / drop repeat)
Pre-market SPY is bouncing off yesterday’s low. If we get below, expect the larger time-frame move to go bearish.
As we mentioned in yesterday’s watchlist, that gap down could be met with lower lows… which it was. This will continue to be volatile and allow for options scalping throughout the day.
Yesterday’s high was a major resistance level. If we get above that level today, we’ll see a solid move to $20+ while SPY pulls back.