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I’m kind of surprised that the S&P hit the 50 sma today. My guess was it wouldn’t happen until next week. It also took some time for the Nasdaq to hold 11800 support. It bounced only .30% after dropping deeper.

3:04 AM · Jul 23, 2022Twitter Web App

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Will probably range off of it back and forth between 390-400 before another leg down…my guess late next week if big tech earnings goes poorly

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Why would you say something like this? What do you mean?

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I liked the 50 SMA rejection showing resistance/395. Took some longer term swing puts

Bender Bending Rodriguez

@BenderB90519695

Jul 23

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@MasterBJones

Saw it coming and due to the system w the velocity of the drop, the vol analysis, my levels of demand being around or below 50sma I figured we would get a test of it as well as 10sma failure entered 395 puts at 397.50 for 50 cents sold em for 2.20 ish. Bagger!

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and

Can’t lie I thought this was one of easiest trading days in a long time. Got 7/22 exp. 398 calls Thurs for 1.60, cus it was clear we were on our way to hit major resistance today. At which point I sell for a winning trade unless we somehow break through and get a mega rally

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Warning shot across the bow on the $SNAP earnings situation, if GOOG and $META have a similar issue next week, along with a few other big names on top of the Fed raising rates the market could turn into a real shit show real quick.

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They had to prop it up so next week when it tanks it doesn’t look so bad 🤣