GM same exact theme light volume manipulation into support area all eye on the
fed meeting next week for tapering — DO NOT TRADE DIRECTIONAL HERE or smaller side
either will get a crazy bounce to resistance or a break of the key support 1760 so be very careful ES range 1762-1792.
** ES trying to test the 1762 Key number now on the support side both 1762 and 1773.5 are super key on the resistance side 1780-1792-1799-1814 (Touching DTZ sell area but not extreme zones yet watch shift back up today or next few days before FOMC)
**SPY key 177-177.92 support
** Crude reaching target 96.85 next important support 96-96.55 big resistance for longs to come back with a break of 97.55
** EURO 6e key support 1.37-1.3685 watch from a rebound from there problem is we start to have important resistance 1.3790 for a new high above 1.3827
*** AAPL key support and numbers 556 and 563.5 area then upper side 576-585 we have weeks before
earnings see if a retracement is in the card also if the entire SPY collapse it will not help AAPL
although AAPL I have been moving most of the year opposite SPY
KEY IS DOING CREDIT SPREADS OUT OF THE MONEY FOR PROTECTION BELOW EXTREME SELL ZONES AND get enough premium to pass Christmas if a rally happens play small SPY calls in out for the day and FLAT no overnight unless you have duration.
THIS TIME OF THE YEAR I WROTE SINCE DECEMBER 3rd post is dangerous and tricky and the best traders know to step aside.
Have a nice week end.
