Hi Shoppers,

I am seeing possible dojis created yesterday in the major indexes which could be signaling a change in this downtrend.

Here is the SPDR S&P 500 (Ticker: SPY) chart:

In the Invesco QQQ Trust (Ticker: QQQ) there is a doji along with a support level:

The Ishares Russell 2000 (Ticker: IWM) is not so much a doji but kind of an inverted hammer not perfect but there is also support in this area:

And another piece of evidence is the E Mini S&P 500 Futures March Contract (Ticker: ES) chart. Check out that beautiful doji:

What’s a good way to play this upside move?

The ProShares UltraPro Short S&P 500 3x (Ticker: SPXU):

It is trading right around the 50 day moving average and has the 200 day moving average just below yesterday’s close.

Watch for SPXU to below $17 and check out the Dec30 17 puts:

Be sure to wait until the market has been open at least an hour before hopping in.

Trade Review

In my last write up, I recommended Bank of America (Ticker: BAC) puts. I paid $.57 for the Dec30 32 puts. They traded a high of $.92 yesterday. 

Of course that is where the market makers sold them. You could have sold some at $.87.

I still think BAC is going to trade at least $33, I am looking to sell these over a dollar.

Thanks for Reading … See You Next Tuesday.

Licia Leslie