$SPX $SPY Weekly Chart Update
1,050 on $SPX or thereabouts is a very logical support zone – 34ema and 50ema on the weekly are around there, and stochastics are getting close to oversold finally… Curiously, the top box stochastics – long-term – haven’t moved much.
Around that level, or $105 on SPY, I will sell my SPY puts and will add to the calls. Once it gets to $105, it’ll be tempting to hold to $103, but that’s just greedy.
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