Election-Fueled SPY Opportunity

Published on
10 October, 2018
Topic
Trading, US Economy, Technical Analysis
Duration
10 minutes
Asset class
Equities

Election-Fueled SPY Opportunity

Featuring Dave Floyd

Does recent weakness in the S&P 500 coupled with rising interest rates and the upcoming mid-term election constitute a buy signal for the S&P 500? Dave Floyd of Aspen Trading Group sits down with Real Vision’s Brian Price to walk us through his process of fundamental and technical analysis regarding the trade. Filmed October 9 in New York.

Published on
10 October, 2018
Topic
Trading, US Economy, Technical Analysis
Duration
10 minutes
Asset class
Equities
Rating
48
Sharing

Comments

  • DF

    Dave F.

    14 10 2018 14:29

    0       0

    Dust is starting to settle.

    Technically, Friday's push higher into the close is rather encouraging. Using 2724-45 as a floor/support/stop.....should see a bounce towards 2865

  • NI

    Nate I.

    11 10 2018 14:35

    0       0

    Looking up at $285 in SPY. Now about $277 as I write this. Are you out Dave or do you still think long S&P into year end?

  • AG

    Arpit G.

    11 10 2018 04:02

    1       0

    Thanks for mentioning 2865 as a support level on the SP500! Helped out a lot today!

  • CM

    Carl M.

    11 10 2018 03:28

    0       0

    Dave ,
    I appreciate, what I would call, your agnostic approach. Great tools to keep the emotions and chatter in proper perspective. I am learning...slowly.

  • DC

    Darren C.

    11 10 2018 02:26

    1       0

    I'd love to see an update video asap from Dave F discussing what his charts look like with the newest info from Oct 10 trading. It would be educational for us non technical traders ....

  • DR

    David R.

    11 10 2018 01:40

    2       1

    You can't win them all. If you win 60% you're doing great. That's why you have stops and a plan. For that, I give thumbs up. His plan wasn't bad actually IMHO. 2865 was a good pt.

  • DR

    David R.

    11 10 2018 01:35

    0       0

    But I tend to agree with his outlook for USD and EM, as a short term trade that's being potentially set up soon. But I hasten to add you shouldn't lump all EM together; there are dog and jewels.. So avoid the crappy EEM etf.

  • DW

    Dave W.

    10 10 2018 23:25

    7       8

    Not sure how Dave got chosen to be a regular contributor. I continue to hear nothing but fluff and meaningless stats to justify taking positions. Maybe I'm biased but I put no stock into a guy who uses primarily Elliott Wave for analysis and then proceeds to talk about fundamentals and sentiment to add to his narrative. To me this is pure confirmation bias. There is so much good content on RV this (and other trade ideas) just doesn't measure up.

  • DF

    Dave F.

    10 10 2018 23:03

    12       0

    This trade idea has been nullified in a rather rapid manner.....glad there were clear 'stop' levels.....market took a spanking today. I am holding the Call Spreads, but closed futures

  • CW

    Christine W.

    10 10 2018 21:36

    3       0

    So much for that call. Looks like all bets are off.

  • BC

    Bogdan C.

    10 10 2018 20:19

    4       0

    S&P 500 Index - 2,785.68 (-94.66; -3.29%) 10.10.18 close

  • MN

    Michael N.

    10 10 2018 18:56

    0       0

    Days not over yet but S&Ps at 2819 at 3pm.

  • PW

    Peter W.

    10 10 2018 18:54

    4       0

    Even though I didn't trade on it, something cropped up with the ES SP500 contract 8 sessions ago, and I had to significantly reduce size. It went flutter, visible book vs actual transaction liquidity was cut 22%, then 30% next session, then 35% on 4th. Now with the latest downdrafts, it obviously never recovered. Normally transaction depth (not visible book) would restack (buy-back algos restart inventory allocation 1-1.5hr after RTH open) after 2-3 sessions of time-out breathing, but for whatever reason that has not been case this correction. With the significant breakdown below 2865 (ES) today, losing the breakout from all-time back in Feb, a massive 90k volume traded in 5mins from 55's to 51 handle. Hand was shown. It's going to take some very heavy lifting to get on up through and close above 65 handle area when this downdraft subsides. I honestly don't see how you put on a meaningful long until 2818 and 2790 zones, or it shows significant strength about 2865. FWIW, I trade 0.4-0.7% of entire daily ES volume @ just above HFT timescale. - IMM/B-1 trader

  • cr

    chris r.

    10 10 2018 18:01

    7       1

    Kind of silly to post this video if the stop loss was broke prior to watching.

  • MP

    Mirjam P.

    10 10 2018 13:35

    0       0

    Hi Dave, a couple of questions regarding the stats when the S&P500 returns to the 50DMA while in a strong uptrend if you don‘t mind sharing: How do you technically define a strong uptrend? What is the timeframe the gains of on average 3%-5% are to be expected within (timeframes are mentioned later in the video but in a different context)? Shouldn't the average be a single number or is this a confidence interval?

  • cl

    connor l.

    10 10 2018 11:09

    4       2

    Timely and solid trade. A collective thank you to Dave Floyd and Real Vision!