MOMENTUM TO THE UPSIDE ON $SPY
Updated
Notice a signal for some calls on SPY. When the 15ma (BLUE) crosses up the 60 MA (PURPLE) while momentum is above 2 usually indicates a run up. Ive played this multiple times with more success than fails. Will wait for an entry if PA comes near trend line. Looking a week out calls probably around 520s
Note
Staying a little cautious on this. PA kept a decent divergence from the MAs which could mean we see a drop tomorrow which would make it a sweeter price for some Calls but depending on how bad it drops, might hold off.
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