$SPY Gap Up Reversal
SPY had a nice slow grind up last night.. Only to give it all back right at the open and head lower. We had some economic data this morning at 10:00 EST so that could definitely be part of the reason. It also did need a decent pullback before hopefully heading higher after that big run it has had. It failed to hold the 415.2 level.. Broke down and retested. This is a great risk reward entry. It sent it down multiple levels all the way to 408. 415P 1.76 - 7+++
CRM gapped up with earnings but it basically did the same thing as SPY. It lost a key level and trended lower from there. It didn’t quite make our level below but if you entered near the breakdown level you definitely got 3x risk reward. 180P 2.65 - 5++
$AAPL Pop And Drop
AAPL gapped up with the market and ran out of the gates. It ran right into our 151.3 level and fell on it’s face. Great opportunity to get short. It ended up heading down all the way near our 147 level. 150P 1.5 - 3+
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We love the gap up reversal plays.