BY LICIA LESLIE
November 17, 2023
Hi Shoppers,
I am thinking the SPDR S&P 500 (Ticker: SPY) gapped up on Tuesday and has been hanging out in this area the last two days.
It could be gearing up for that next leg higher to $453.50:
If SPY opens and trades higher I will be a buyer of today’s 451 calls:
These will decay fast so as SPY opens higher we will be able to buy these under $.90.
Begin to take your profits over $2.00.
The target is $453.50.
Trade Review
IShares Russell 2000 Index (TIcker: IWM) traded right where I said it would, to the 200 day moving average. It has reversed from there and is revisiting the head and shoulders neckline. It could be a buy today.
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Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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