In follow up to the last post and recommended option trade for SPY calls, the profit target has been met and limit order filled for all of the different expirations which fell in line with the recommendation and past data.
The 50% limit order for expiration last Friday, this Wednesday, and this Friday have all been reached, so the trade is closed for another nice short term gain.
Currently, I expect SPY to move to new all time highs again, probably by the end of this month. However, the pattern that I see, I feel could signal a major decline to follow. I will give a perspective on the set up to follow for a possible longer term high with practical idea of timing a short/inverse trade on stocks as the set up develops.
Pete
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