$SPY Weekly Update $SPX $QQQ

Hey Traders,

Another weekly SPY update!

--Weekly Trading Update--
Prior week consisted of only two trades - each one was a put vertical spread favoring the long side, one in SPY the other QQQ. All trades ended profitable with 9% avg gains.

Trading Changes

• Only trading off indices/es indices (Not focusing on any individual equities or commodities)
  
• Only trading options - Switched to a broker that specializes in options/futures (No more spreadsheets!!)
  
• Only entering ONE trade at a time
  
• Never entering a position with greater than 5% of my entire account size
  
• Risk mitigation with smaller trading positions has enabled me to focus less on the market and stomach volatility as I wait for a winner & premium selling gains.
  
• Not entering trades with a probability of profit of less than 65% - I am in the speculation business, not the gambling business.
  

--TA Update--

Currently hugging the upper Bollinger just under 2 standard deviations out.
High probability this will want to touch the 20day MA again before hitting ATH next.


Z-score confirms how many standard deviations it is out. - Bullish
Vortex - JUST appeared Bearish, weekly likely just began to appear bearish



ICH - Neutral/Bullish (Positive that the short term moving average remained constant)


Oscillators - overbought, but can remain at these levels a long time


Moving Averages - Bullish


Volume - Weak (Can continue to drip up to ATHs)


Vix continues to coil down - I am currently having theta work for me! This high probability of profit is what has lead to the 3-week hot-streak, not a single negative trade!






--Current Trading--

Long in another put vertical spread on QQQ - Fibonacci speed fan makes evident the melt up is slowing down.