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Wednesday, July 15, 2020

Take Profits Into Market Strength and Go To Cash - Trouble In August


One Option Trading Blog https://ift.tt/2OraM1V Posted 9:30 AM ET - Day traders should wait for support this morning. Opening gaps higher to resistance have a tendency to reverse. I will be watching tech stocks on the open to see if they still have "gas in the tank". If we are going to see a gap reversal, it will happen in the first 45 minutes of trading and we will see long red candles closing on their low very early in the day. Once support has been confirmed we can buy stocks with relative strength. We've seen an incredible amount of intraday volatility in a 100 S&P …

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