Trading Ideas: MU, SNDK& .SPX
1
$S&P 500(.SPX)$ TRADE PLAN π π
SPX bullish plan: SPX above 7500 | SPX June 10 7600C π
T: 7546, 7600 SL 7450
SPX bearish plan: SPX under 7400 | SPX June 10 7300P π
T: 7333, 7300 SL 7450
SPX dropped from 7620 to 7368 this past week. SPX had a sharp pull back this past Friday.
It looks like SPX is starting its next consolidation period after a 9 week rally higher.
SPX under 7333 can drop to 7271 next. Itβs possible we see SPX back test 7000 before a bottom forms.
Iβd stay bearish under 7500 this upcoming week.
2
Trade Idea: June 12 1500P
Trigger: 1662 π
Targets: 1500, 1450 π―
Stop: 1700 π
Dropped from 1861 to 1514 this past week.
If SNDK fails to reclaim 1700 this upcoming week, it can pull back to 1400 on the next leg lower.
Puts can work under 1500 this week.
If SNDK pops up to 1662 and fails to hold this level, puts could also work.
3
Trade Idea: June 12 850P
Trigger: 928 π
Targets: 837, 800 π―
Stop: 956 π
MU dropped from 1089 to 864 this past week.
MU to 820, 772 in play on the next leg lower.
Letβs see if MU tries to pop back higher towards 928 again before the next leg lower.
Puts can work near 928 this upcoming week.
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