MarWk3 - SPY Market Summary

MarWk3 - SPY Market Summary

MarWk3 - SPY has been one of the most interesting movements. The Tenkan Sen has finally lifted from the close movement with the Kijun Sen and that has alleviated some tension that the massive price drop is coming.

Well from the looks of it, it doesn't look like that will happen anytime soon. Even though technically Friday was a correction of sorts. I think there is still some more upside to all this. Although, I must say, now looking at the chart above, the Tenkan Sen is moving upwards to meet with current price. That said, is that an indication that there is going to be a Tenkan Sen cross with price? I surely hope not.

My trade of a Put Spread last week paid off finally and I clocked in an ROI of 2.95%. It was a hard fought return as I only managed to get it on Thursday night in the wee hours of the morning, and there it was for the taking. :)

Looking forward to MarWk4 for some exciting movements, and hopefully I will be able to find another good trade. :)