Dow Begins Real 22K Breakout
Exactly as I have predicted it on Monday morning, the US market reversed strongly with the Dow shot up and above the 22,000 points level in one fell sweep!
Did you guys manage to profit from that move like me and my Master's Stock Options Picks subscribers did? :) We were prepositioned for this move since last week and doubled up on it Monday morning for even more profit! If you missed making money from Monday's move, you really need to join me for just $1 at http://mastersoequity.com/ now!
Better than the rally on Monday, yesterday's positive follow up, even though it was not a huge positive day, it was an IMPORTANT one which confirms this to be the start of a new leg upwards rather than just another bull trap. It also closed the S&P500 at a new all time high of 2496 points and reversed the intermediate trend from neutral back up to bullish, making it an all out bullish market again.
Looking inside, all my favorite confirming indicators supported the day to be a truly positive day, bond yields rising as investors reallocate back to equities and total equities put call ratio continues to trade in favor of call options. A look at the volume of both the indices and their ETFs showed that the move was not overdone and therefore a very healthy one which puts all the odds to upside from here onwards.
This truly excited me and my subscribers as we accumulated into QQQ call options a week ahead of this move. We did get into SPY call options too but only for a single day profitable trade. All in all, this has been an extremely profitable season for us so far!
I see the next level of uncertainty around the 22,500 level where we should experience some short term profit taking. Until then, lets enjoy the ride!
Also, those of you with options trading questions you would like me to answer, you could follow me on Quora at https://www.quora.com/profile/Jason-Ng-34 and request your questions to me.
For now, the market returns to a short term, intermediate and primary bull trend.
Did you guys manage to profit from that move like me and my Master's Stock Options Picks subscribers did? :) We were prepositioned for this move since last week and doubled up on it Monday morning for even more profit! If you missed making money from Monday's move, you really need to join me for just $1 at http://mastersoequity.com/ now!
Better than the rally on Monday, yesterday's positive follow up, even though it was not a huge positive day, it was an IMPORTANT one which confirms this to be the start of a new leg upwards rather than just another bull trap. It also closed the S&P500 at a new all time high of 2496 points and reversed the intermediate trend from neutral back up to bullish, making it an all out bullish market again.
Looking inside, all my favorite confirming indicators supported the day to be a truly positive day, bond yields rising as investors reallocate back to equities and total equities put call ratio continues to trade in favor of call options. A look at the volume of both the indices and their ETFs showed that the move was not overdone and therefore a very healthy one which puts all the odds to upside from here onwards.
This truly excited me and my subscribers as we accumulated into QQQ call options a week ahead of this move. We did get into SPY call options too but only for a single day profitable trade. All in all, this has been an extremely profitable season for us so far!
I see the next level of uncertainty around the 22,500 level where we should experience some short term profit taking. Until then, lets enjoy the ride!
Also, those of you with options trading questions you would like me to answer, you could follow me on Quora at https://www.quora.com/profile/Jason-Ng-34 and request your questions to me.
For now, the market returns to a short term, intermediate and primary bull trend.
posted by Jason Ng at 3:20 AM
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