Now What?

Hi Shoppers,

WOW!! What a day Friday was!

Now the question is where do we go from here?

The crazy thing is looking back at the last two times the S&P 500 futures traded down to this pitchfork level, the next day was a face ripping recovery rally retracing the entire selloff!

Check it out:

Then big moves higher.

Here it is on the QQQs:

I am not saying this will happen again but… we do have major elections happening on Tuesday.

I have been telling my members the index to watch is the VanEck Semiconductor ETF (SMH) which is also breaking down trading down over 8% on Friday:

Watch for this one to retrace to $521 before selling off to the bottom of the pitchfork at $503.

Speaking of the elections, as always, Option Pit is here to guide you through it all.

Garrett Baldwin will be hosting a live 3-day event starting Monday at 10 AM to discuss markets and elections.

All our traders will be making appearances also with what they are seeing.

A cannot miss event!

Tap this link to join.

Seats are free

See you there!

Licia Leslie

Licia Leslie

Licia Leslie

Share This Article

Licia Leslie

0DTE Daily

QQQ breaks Friday lows, SMH down 5pct

By Licia Leslie

Licia Leslie

0DTE Daily

Resistance held, but watch the opening low

By Licia Leslie

Licia Leslie

Pit Report

This Stock Just Broke Support and Bounced. I’m Not Buying It.

By Licia Leslie

Licia Leslie

0DTE Daily

Yellow light at 7800 resistance

By Licia Leslie

About the Author

Licia Leslie

Licia Leslie

Former CBOE floor trader and CIO at Karman Line Capital. Author of ‘The Option Traders Hedge Fund’ with over 30 years of options trading experience.

Popular Posts

Categories

Stay Updated

Subscribe to our newsletter for daily trading insights

Upcoming Events

FOMC Meeting

2:00 PM EST

Earnings Season Begins

Pre-market

Options Expiration

Market Close

NFP Report

8:30 AM EST