Friday Morning Thoughts


The opening bell is just minutes away.  Stocks are back in a free fall.

We remain on the cusp....


A breakdown below support will be an excellent signal to trade for more downside.  Right now, it has not happened, and yesterdays move off support was a sight to behold.

Would the market not exact the most damage on all participants if it rallied off the lows this morning and closed flat or positive?

S&P500 futures are off 2.6% just before the opening bell.

I will be watching the key support levels again today.

$IWM needs that $100 level into the long weekend.

$SPY $190 , $QQQ $100

With the $SPY set to open some $5 lower, it will be a tall order to see the market rally as it did yesterday.

Key support breaks across the board will make the early 2016 sell-off look like just a tiny pull back compared to the potential collapse that would come in the weeks ahead.

Have a great trading session.  See you in the chat room.


Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

More Posts by UPB: View All | Private Twitter Feed: Access Now! (For Diamond Members)

Leave a Reply