12-20-2021, 03:52 AM
$27.11 Spread on $SPY. Did the shorts cover post Quadruple Witching?!
<!-- SC_OFF --><div class="md"><p>I was doing some TA on SPY with RSI and it looks like SPY is about to breakout. Then I noticed in the top left of Trading View a $27.11 spread on SPY. Am I crazy or are we gapping up Monday post Quadruple Witching?</p> <p>​</p> <p><strong>Link:</strong> <a href="https://ibb.co/WzhjVB5">https://ibb.co/WzhjVB5</a></p> <p><strong>SPY 149,681,807 Shares Sold Short:</strong> <a href="https://fintel.io/ss/us/spy">https://fintel.io/ss/us/spy</a></p> <p><strong>CDC Source:</strong> <a href="https://www.dailymail.co.uk/health/article-10314687/CDC-issues-grim-forecast-warning-weekly-COVID-cases-jump-55-1-3-MILLION-Christmas-Day.html"><strong>https://www.dailymail.co.uk/health/article-10314687/CDC-issues-grim-forecast-warning-weekly-COVID-cases-jump-55-1-3-MILLION-Christmas-Day.html</strong></a></p> <p><strong>NY Source:</strong> <a href="https://thehill.com/changing-america/respect/equality/586386-new-york-records-highest-covid-cases-in-a-single-day-since"><strong>https://thehill.com/changing-america/respect/equality/586386-new-york-records-highest-covid-cases-in-a-single-day-since</strong></a></p> <p>​</p> <p>During an uptrend, the RSI tends to stay above 30 and should frequently hit 70. During a downtrend, it is rare to see the RSI exceed 70, and the indicator frequently hits 30 or under.</p> <p>Friday at close: RSI above 30 indicating a bullish trend is about to start despite SPY price hitting $459.</p> <p>Big picture: Higher lows and RSI staying above 30, lower highs for RSI, Bullish AF.</p> <p>​</p> <p>In my opinion, the Friday sell-off was because England raised their interest rates which makes NO logical sense when their country is a hotspot for the new variant. The rest of Europe didn’t and won’t raise interest rates in 2022 because of the variant. </p> <p>The CDC states this is going to get terrible in the U.S and the media says it’s mild when it’s not. You need to look at the hospitalization data closer and you will realize it’s significantly worse than Delta. Read below, “<strong>CDC issues grim forecast warning that weekly COVID cases will jump by 55% to 1.3 MILLION by Christmas Day and that deaths will surge by 73% to 15,600 a week as Omicron becomes dominant strain.”</strong></p> <p>Then look at the New York City data, <strong>NY Reports Highest Single-Day Case Total of Pandemic.</strong> This variant is extremely contagious, the bull run is just starting. Our gov won’t let the economy crash causing permanent damage to the economy when the pandemic is starting again.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/AxemanFromMA"> /u/AxemanFromMA </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/rk3p6w/2711_spread_on_spy_did_the_shorts_cover_post/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/rk3p6w/2711_spread_on_spy_did_the_shorts_cover_post/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I was doing some TA on SPY with RSI and it looks like SPY is about to breakout. Then I noticed in the top left of Trading View a $27.11 spread on SPY. Am I crazy or are we gapping up Monday post Quadruple Witching?</p> <p>​</p> <p><strong>Link:</strong> <a href="https://ibb.co/WzhjVB5">https://ibb.co/WzhjVB5</a></p> <p><strong>SPY 149,681,807 Shares Sold Short:</strong> <a href="https://fintel.io/ss/us/spy">https://fintel.io/ss/us/spy</a></p> <p><strong>CDC Source:</strong> <a href="https://www.dailymail.co.uk/health/article-10314687/CDC-issues-grim-forecast-warning-weekly-COVID-cases-jump-55-1-3-MILLION-Christmas-Day.html"><strong>https://www.dailymail.co.uk/health/article-10314687/CDC-issues-grim-forecast-warning-weekly-COVID-cases-jump-55-1-3-MILLION-Christmas-Day.html</strong></a></p> <p><strong>NY Source:</strong> <a href="https://thehill.com/changing-america/respect/equality/586386-new-york-records-highest-covid-cases-in-a-single-day-since"><strong>https://thehill.com/changing-america/respect/equality/586386-new-york-records-highest-covid-cases-in-a-single-day-since</strong></a></p> <p>​</p> <p>During an uptrend, the RSI tends to stay above 30 and should frequently hit 70. During a downtrend, it is rare to see the RSI exceed 70, and the indicator frequently hits 30 or under.</p> <p>Friday at close: RSI above 30 indicating a bullish trend is about to start despite SPY price hitting $459.</p> <p>Big picture: Higher lows and RSI staying above 30, lower highs for RSI, Bullish AF.</p> <p>​</p> <p>In my opinion, the Friday sell-off was because England raised their interest rates which makes NO logical sense when their country is a hotspot for the new variant. The rest of Europe didn’t and won’t raise interest rates in 2022 because of the variant. </p> <p>The CDC states this is going to get terrible in the U.S and the media says it’s mild when it’s not. You need to look at the hospitalization data closer and you will realize it’s significantly worse than Delta. Read below, “<strong>CDC issues grim forecast warning that weekly COVID cases will jump by 55% to 1.3 MILLION by Christmas Day and that deaths will surge by 73% to 15,600 a week as Omicron becomes dominant strain.”</strong></p> <p>Then look at the New York City data, <strong>NY Reports Highest Single-Day Case Total of Pandemic.</strong> This variant is extremely contagious, the bull run is just starting. Our gov won’t let the economy crash causing permanent damage to the economy when the pandemic is starting again.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/AxemanFromMA"> /u/AxemanFromMA </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/rk3p6w/2711_spread_on_spy_did_the_shorts_cover_post/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/rk3p6w/2711_spread_on_spy_did_the_shorts_cover_post/">[comments]</a></span>Kind Regards R