SPY has been quite strong the last couple of days but the same cannot be said about IWM. However, today IWM was able to follow SPY. Bounced off the 211-212.5 support and ran higher. It could next test the resistance at 220.
The question is, can it fill the gap at 226-230? The answer is not so fast as there are two more resistance above 220 and near/below that gap. The first being 225 and the next being 227.5. Unlike SPY (which has already broken through the last resistance before ATH), IWM has a lot of work to do to even think of retesting the ATH (It is a long way for now).
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IWM got rejected at the 220 zone and is now trading around 215.xx. The next support is at 210-212 zone. With quad witching tomorrow, nothing is certain.
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We have seen some gains but it still hasn't broken 226 while SPY been hitting new ATHs. With SPY most probably going down (even if shortly), doesn't seem like it will fill the gap at 228 soon.
@alwaysinlearningmode the bears are gonna be on microsoft early in the morning trying to drive price below 303.75 to make a lower low ... if microsoft can make a higher low and higer high tomorrow, thats very bullish for spy in the short term
@lavontakeyamon, A bit too early as this week just started. It could still go down
alwaysinlearningmode
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Since your calls and put makes you neutral in case of a bid move, why you don’t want to sell calls and keep puts only? In my opinion (no financial advice), I will see how the market goes and then decide
alwaysinlearningmode
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Do you have calls in IWM? Historically money should flow from large into small caps but I don’t think that’s going to happen until SPY hits 500 and it might even not happen this year.
UnknownUnicorn32969573
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im going to sell out of the calls i made friday on monday and hold the puts and if we get a bounce, ill sell the puts and buy the calls back