Market Line Weekly Newsletter

Transcription

1 Market Line Weekly Newsletter December 17, 2017 Stock Watch: The trend is up and the bulls have the momentum. A close below the 12/1 low in any of the major indices (the Dow, the S&P, the QQQ, IWM, and MDY, among others) would be a sign of a top. We want to exit the DIA and SPY calls at the market. Based on the current prices, profits from the calls should cover losses on the puts. We also have orders for the QQQ and IWM. S&P E-Mini Futures Weekly

2 The trend is up. The next targets are 2700 and A daily close below could result in a pause or a pullback. A close below would be a sign of a top. DIA Weekly The trend is up. The next targets are 250 and 255. A daily close below would be a sign of a top. On 8/13 we said: We want to buy the DIA January 19, Put at the market. 8/14-Bought to Open at 7.55.

3 On 11/12 we said: We want to buy the DIA January 18, Call at the market. 11/13-Bought to Open at We want to exit the Call at the market. Based on Friday s closing prices, the profit from the Call should cover the loss on the on the Put. SPY Weekly The trend is up. The next targets are 270 and 275. A daily close below would be a sign of a top.

4 On 8/13 we said: We want to buy the SPY January 19, Put at the market. 8/14-Bought to Open at On 11/12 we said: We want to buy the SPY January 18, Call at the market. 11/13-Bought to Open at We want to exit the Call at the market. Based on Friday s closing prices, the profit from the call should cover the loss on the on the put. QQQ Weekly

5 The trend is up. The next targets are 160 and 165. A daily close below would be a sign of a top. On 8/13 we said: We want to buy the QQQ January 19, Put at the market. 8/14-Bought to Open at On 11/12 we said: We want to buy the QQQ January 18, Call at the market. 11/13-Bought to Open at We want to place a Good Till Cancelled order to exit the Call at limit. IWM Weekly

6 The trend is up and the bulls have the momentum. The next targets are 155 and 160. A daily close below would be a sign of a top. On 5/21 we said We want to buy the IWM January expiration 135 put at the market. On 5/22 we were filled at On 8/13 we said: We want to buy another IWM January expiration 135 put at the market. On 8/14 we were filled at On 11/12 we said: We want to buy two IWM January 18, Calls at the market. On 11/13 we were filled at We want to exit the Calls if IWM closes below Thursday s low of

7 $TRAN Weekly The trend is up. The next targets are 10,750 and 11,000. A daily close below 10, would be a sign of a top.

8 XOP Weekly The trend has been down since this year s high. This week s bearish trading points to a further decline. A break of support at would leave the chart relatively wide open down to last year s low of A daily close over could result in a further advance. The next hurdles for the bulls is seen at and

9 XLU Weekly Last month s bearish weekly reversal could mark a top. The initial hurdles for the bear s are seen at and A daily close over could result in a further advance. The next target beyond that is 60. On 10/2/16 we suggested buying the XLU January 19 th put. The buy price was On 9/24 we said: We want to Buy to Open the XLU January 18 th put at the market. On 9/25 we were filled at 4.00.

10 OIH Weekly There s a lower high top setup in place at the September high. The initial hurdle for the bears is this year s low of A weekly close over would void the bearish setup.

11 SLV Weekly The bears seized the momentumtwo weeks ago. The next hurdles for the bears are seen at and the initial hurdle for the bulls is seen at

12 XLF Weekly The trend is up and the bulls have the momentum. The next target is 30. A daily close below would be a sign of a top.

13 TLT Weekly TLT has a higher low bottom setup. The initial hurdle for the bulls is seen at A weekly close below would void the bullish setup.

14 COP Weekly We re long a put and a call, so we need just need enough movement for the pair to increase in value. The options don t expire until 2019, so there s no rush. On 4/2 we said we want to buy the COP January 18 th 2019 expiration 55 Call for 4.25 limit. On 4/3 we were filled at On 8/20 we said: We want to Buy to Open the COP January 18 th 2019 expiration 45 Put for 6.50 limit. On 8/22 we were filled at 6.50.

15 VIAB Monthly The bears have been in control since this year s high. The monthly chart is relatively wide open down to the 2008 low of The initial hurdle for the bulls is seen at On 4/2 we said we want to buy the VIAB January 18 th 2019 expiration 50 Call for 4.75 limit. On 4/3 we were filled at On 8/6 we said we want to Buy to Open the VIAB January 18 th 2019 expiration 30 Put at the market. On 8/7 we were filled at 4.30.