Howdy Everyone,
Just be careful whatever direction you head in. We're in both a Downtrend overall, and a new Uptrend with the latest bull run. the problem is while we DID break out of the down wedge, we're still in a bear flag pattern since our ATH. Nothing to be scared of for those swinging Long Calls, assuming your Expire is a few weeks out. I would NOT do weeklies for a bit as we see a clear H&S on US500 to reach the Higher Lows of the Uptrend channel.
Let me know if you have any questions!?!
Just be careful whatever direction you head in. We're in both a Downtrend overall, and a new Uptrend with the latest bull run. the problem is while we DID break out of the down wedge, we're still in a bear flag pattern since our ATH. Nothing to be scared of for those swinging Long Calls, assuming your Expire is a few weeks out. I would NOT do weeklies for a bit as we see a clear H&S on US500 to reach the Higher Lows of the Uptrend channel.
Let me know if you have any questions!?!