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Momo Market Roundup, 3/17/2022 — $SPY Afternoon Rally… $FUTU Gives Up Some Gains… $SHOP Moving On Up… $ACN Gap Up Reversal 

 March 17, 2022

By  spectre_trades

$SPY Afternoon Rally

SPY was somewhat choppy this morning but it geared up and reclaimed our 435 level and pushed higher.  438C moved from 1 dollar to 3.4 at the 441 level. Good job SPY its nice to see some upward momentum.

$FUTU Gives Back Some Gains

FUTU gapped up huge the other day and today it seems like it wanted to give some of them back… along with the other Chinese tickers.  It lost our 35 watchlist level before finally giving it one more test for a chance to get short. It then proceeded to head all the way to our 32 level before rallying into the end of the day. Not a bad mornings work. 35P from 1.7 to 3 bucks.

$SHOP Moving On Up

SHOP did not test our watchlist level in the morning but it was close. You could have gotten long there at the open or waited later on for the previous day close retest. 650C made a solid 1:3 risk reward going from 5 bucks to 15.

$ACN Gap Up Reversal

ACN issued news about raising their guidance for the year and we were looking at potentially gap up continuation… however they decided to sell it instead. It popped into our 343 level at the open for an opportunity to get short… and down it went. Quickly turning into an all day seller. If you used commons you made big bucks. Getting short on the VWAP break is always a treat. This play treated us to a nice 1:5 risk reward ratio!

Two Hour Trader Student Results

Amazing account growth numbers. Great work team!

spectre_trades


Momentum Trader. Technical Chart Analyst. Always on the hunt for 3x or better reward to risk.

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