8/20 Recap. I've Returned 8x The Market Since I Started Documenting This In June.

Let’s start with a quick recap of yesterday, I mentioned all week that I was going to be lightening up, I didn’t like the bearish divergence forming on the SPY daily combined with the multiple rejections of the 200. In fact in thursday’s post I mentioned the risk/reward of a SPY short was good. It played out nicely yesterday as you can see below.

Combine that with the fact that the biggest component in our markets Apple put in a very bearish weekly candle yesterday as you can see below. This is called a gravestone candle, really I’m not kidding, Google it. A gravestone candle is usually a sign of a reversal to come, so this very well may be a local top for Apple. Overall things are not looking good for stocks.

Trade Of The Week Update

Well this is now 13 successful trade of the weeks in 14 attempts so far. RTX played out as perfectly as I envisioned. RTX closed last week at $95 and as you can see below, it was mostly down all week but all those key moving averages I highlighted acted as stiff support and held it just over $93 which allowed the 93/92 put spread I suggested selling last week to expire worthless netting a 19% 1 week return for those who followed. Still a cheap name and nice setup going forward in a name that held up well during the nasty move down in the market this year.

Today’s Unusual Options Activity & What Stood Out