You may or may not know this, but last weekend I pointed out to all readers that should SPY, the Exchange Traded Fund which tracks the S&P 500 rise above 293.22, that new all time highs would be possible.
This past week, indeed SPY did indeed break above 293.22, but the highs were seen in the premarket. Upon the options market open (9:30am ET), they were met with sizeable drops to the downside, or new all time high rejections, essentially.
Before we go any further, I want to briefly teach you about the exponential moving average line crossover. Exponential moving average lines are similar to simple moving average lines, but they’re much more weighted toward recent price action. When your goal is to trade for profit daily, you need recent price action, not longer term price action, which is better indicated by simple moving average lines. It would make sense that faster moving indicators are more applicable to ideally collect income at a faster pace, wouldn’t you agree?
Now, not to worry about the drops early in the trading sessions of this past week (read on, I’ve got a super easy way to reel in profits from those), I’m best known for my premarket SPY Trades of The Day, members were able to make the most of the downside moves early in the trading session, applying only one of my three famous tactics… The exponential moving average line crossover to the downside (you need to access this tactic immediately should you desire making fast money tomorrow).
In fact, applying only the exponential moving average line crossover to the downside, as indicated by the chart below, the four trading days in this past week were taken advantage of by my high demand SPY Trade of The Day.
You’ll notice that on all four trading days this past week, markets popped early, and dropped almost immediately. There is no better way to take advantage of that drop than the exponential moving average line crossover to the downside which is one of three tactics I apply on a daily basis on a mission to help members do one thing… PRINT MONEY!
In fact, I was recently interviewed by a colleague who was ecstatic. He was intrigued because I’m fairly young, have a B.S. in Mathematics and a Masters in Business Administration, both from Boston College. He trusts me as America’s #1 Premarket Trader due to the incredible success rate of my SPY Trades of The Day. I called every single one of them this past week using only one tactic of the must have three in my arsenal designed to help you Profit in 30 Minutes or Less!
On a final note, I believe that should SPY rise above 291.40, then new all time highs may be in sight in the week to come. Should SPY drop below 288.84, SPY retreating to 287, a key support level is indeed possible. Either of these could happen via one simple bullish or bearish earnings report from a well known company, such as Apple.Either way, if previous performance is any indication of future performance with my world famous SPY Trades of The Day, members will definitely have their eyes open for them… and it’s likely that we’ll see members make the most of them, yet again!
America’s #1 Premarket Trader,