Wednesday I was focused on my overnight SPY call position, which I sold into the rally, plus a longer-term TLT put position which I’ve held since 12/6/17. These were discussed in intraday comments yesterday. I finally covered some more of that yesterday. For months my next target to cover was 116.50. It got to 116.51 on Wednesday. Also, look at that AKER chart again, yes absorption, and back into that .50 resistance.

So no daytrades yesterday, but I was watching ANTH, and that thing was textbook – textbook. The charts are below. Start with the longer-term, look at the big resistance areas, look at the momentum early, the reaccum and absorption, then the EAs ending the mo trades, then the “box” and the bounce trade. Beauty.









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Trader Scott has been involved with markets for over twenty years. Initially he was an individual floor trader and member of the Midwest Stock Exchange, which then led to a much better opportunity at the Chicago Board Options Exchange. By his early 30’s, he had become very successful in markets, but a health situation caused him to back away from the grind of being a full time floor trader. During this time away from markets, Scott was completely focused on educating himself about true overall health and natural healing which remains a passion to this day. Scott returned to markets over fifteen years ago where he continues as an independent trader.


    • Yes the pure chartists are looking in their rear view mirrors now, but we as traders have to trade. And we need to anticipate back into 128 that it was then forming the shoulder. And the wholr area would be forming a reverse cup/handle (redistribution). And we have to identify the support areas well, and protect ourselves if we are short, and anticipate if we are in a SC at suppor. So we get back to 116.50, and again, this bounce could be a good one. And it will be another reverse handle. But I needed to cover some puts.

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