$SPY Analysis, Key Levels & Targets

SPY Analysis, Key Levels & Targets

For right now the 4hr timeframe is the one that makes the most sense to work on. (I say that but I published the 1day 😬)
The 200MA on the 4hr is right where the price got caught today… which was perfect for me because I did an iron condor setup here which needs to be range bound… pretty risky but I woke up this morning just thinking it would be a slow day…. I don’t know why…. And it was slow… very flat… but with VIX elevated around 7% ALL DAY LONG…. What was that craziness…

I’ll tell you what that craziness was… people loading up on puts…. That’s what vix measures…. The higher the VIX, the more puts being bought. It’s an easy formula… but that is a lesson for another day…

Anyway, I did not get into my short position like I wanted to today… I should have, but I didn’t (and I’m a realtor as well and I was on the phone with clients all day… blah blah blah)

So what I’m looking at on the put side is Sept 30th 434 puts…
Right now they are @27.34 mid… if VIX dips into that gap it opened today the price would come down a bit but I’m thinking for now that’s as low as it might go….

Do you guys get anything out of my late night stream of consciousness ramblings?? I know I get a lot out of it when I come back to read it and see if I followed my own advice… sometimes I do, sometimes I don’t….

Anyway… that’s really it… absolutely nothing has changed since the last chart from this morning… LOL…

If you guys see something that I've missed let me know... And happy trading tomorrow!!! 💃🏻

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I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.

IF you need anything analyzed Technically just comment with the Ticker and I’ll do it as soon as possible…