Happy Halloweekend!
The S&P 500 (SPX) is holding its bullish structure for now. Let’s define what factors must hold firm to maintain this bullish structure. We’ll set up an SPX put credit spread that assumes the short-term path of least resistance is to the upside.
We’re looking for more bullish trades similar to our NVDA trade taken in the Compounding Growth Mastery.
NVDA closed above the daily 21 exponential moving average (EMA), printed Big 3 Buy Signals on multiple time frames, and pushed higher for a quick profit. We’re patiently waiting to open new trades on our watchlist, including CF and TSLA, until the risk:reward ratio improves.
The plan is to wait for a dip before taking new entries, specifically out-of-the-money (OTM) put credit spreads.
I’ve been dabbling in futures for the last few months, so we’ll review some of the opportunities, advantages/disadvantages, and trade ideas I have regarding trading /ES.
Stay Focused!