Scott Redler’s Chart Attack: SPY, BABA


SPX futures are up 1 point as we lost some momentum last week.

SPY gave us a new point of reference at $216.25. A close below there opens the door to $215ish.

$218.20ish is resistance. A pop and close above there relieves some pressure.

We got bullish on BABA into earnings, playing the stock and buying calls.

The earnings gap held $93, which we can trade against. For it to get momentum back, it needs to get and close above $95.50, then $99.

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Positions Disclosure: Scott Redler is long BABA, short SPY