8/11/25 Recap
The SPY is having a small up day nothing notable, breadth isn’t good today, but when 35% of the market is 7 stocks and they’re holding firm, there isn’t much to say. To keep things simple, the market does whatever the mag 7 do and they’re looking great now, even Tesla is breaking out today up 4%. We continue to hover over the 8 ema in a clear uptrend until that breaks you want to remain long for the time being and if we make new highs over 639.85 you can really press it hard. The one thing that concerns me is this looks like a big bear flag the last 7 sessions but you can always just be mindful of where that moving average below is as a place to stop out if it gets violated and if it happens before we make new highs, that is a lower high.
My Open Book
Trades I Made Today
SHOP - From the weekend best idea, I sold 500 of the 110 puts in January for 2.85
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