Hi Shoppers,

The market is sitting right at the old support of $450 on the SPDR S&P 500 (Ticker: SPY), which becomes resistance on the way back up.

We definitely needed a day like yesterday. 

A breather from these wild gyrations.

The market doesn’t like huge moves like we’ve been experiencing.

It shows uncertainty which can become bearish.

So … which way do we go?

Guess what?

IT DOESN’T MATTER … 

You have Mark Sebastian and his Big Money Flow system which tracks the large option trading volumes i.e. the smart money.

And Big Money Flow system has been raking it in.

Seven of his last eight trades have been winners, including …

CF 64%

NRG 34%

OXY 68%

PACB 79%

VOD 83%

Tonight at 8 PM ET, Mark is holding a live event to showcase his Big Money Flow system and you all are invited.

I know I will be there.

>> And you can register here at no cost. <<

Once you’ve in for tonight, let’s take a closer look at SPY.

Through the SPY-glass

Here’s the SPY chart:

The old $450 support line on the way down has now become the new resistance line on the way back up.

SPY did manage a last-hour rally after trading near unchanged all day yesterday.

I would like to see SPY open and trade higher today before I jump on any new long trades.

If it does open and trade higher, the next stop or area of resistance is $471.

Trade Review

Norwegian Cruise Lines (Ticker:  NCLH) traded lower and has managed to come back. The Feb. 04 21-strike calls are back to $.93. I think NCLH can trade back to $23 from here.

Freeport McMoran (Ticker:  FCX) opened up and traded higher. You had to hop on those calls pretty early. The stock has traded up to $39 from $36. The Feb. 4 36-strike calls are around $3.10. FCX needs to trade through $40 resistance to trade $41 and close the gap created on Jan24.

Don’t forget to register for Mark’s event!

Thanks for Reading … See You Tonight!

Licia Leslie