Hi Shoppers,
We have officially left my older pitchfork which goes back to Oct27, 2023!
I know, crazy right? Here it is on the weekly chart:
The last time this happened was the collapse last April.
Zooming in on the daily chart, we closed right at the 200 day moving average with the next support level coming in at $6555:
That is the level that has held going back to Oct10 and Nov21 of last year. Below there everyone will be watching $6500.
A bounce could take us back to $6767.25.
Stay nimble out there as we are looking lower but rallies do occur.
Thank You For Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
See what's hot at option pit
CAPITOL GAINS: SMR Aug16 7 call closed for a 150% gain
DELTA STRIKE: VLY Mar15 8 puts closed for a 88% gain
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OP MENTORING: SPY Mar22/19 510 put calendars and 520 calls for 6.4% gain
OPTION SHOPPER: ERX Mar28 65 calls closed for a 90% gain