Enlarge any chart by clicking on it.

Unless otherwise specified, ALWAYS use the 15min chart to enter my recommended plays because
CONFIRMATION is a MUST. In other words, you need to see a 15min candlestick that CLOSES beyond
the entry point, then enter when it moves 10cents after the high/low of that candlestick.

Tuesday, August 12, 2014

SPX

I was too exhausted from my trip to the point of falling asleep while reviewing my SPX charts (and was not able to review my watchlist). That is why this is being posted late. I should be back to normal from tomorrow.

WMT EARNINGS PREVIEW:
Walmart reports on Thursday before market opens. I plan on buying October Puts going into earnings. It does not look good. But the problem with WMT is that it does not move i.e low beta and low volatility. So I'm not expecting much from it. A 2-3% move on earnings will be considered a big deal. I hope it is more than that though.
Fundamentally, I will score it at 2.5 out of 10 (very bearish).
Technically, there is a bear flag in play.

WMT-DAILY


SPX-DAILY III


SPX-DAILY II


SPX-DAILY I


SPX-30MIN II


SPX-30MIN I


SPY-15MIN
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