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[/et_pb_text][et_pb_text _builder_version=”4.12.0″ _module_preset=”default” hover_enabled=”0″ sticky_enabled=”0″]All right, good day, folks. I had a member asked me my thoughts on a BB v. And usually when somebody asked me my opinion or thoughts on a particular market, I say, I don’t know, I don’t know, we’ll still take a look at it, though. And what I’m looking at here on a DVD is first off, he was actually asking about it from a seasonal perspective. So the first thing I do is, of course, pull up the smart market scanner. And I see that we have two pockets of seasonal bias to the downside starting on around December 1, I say we’re close enough for government work right around here in the mid to tail end of November. So we’re going to be definitely looking for some bearish bias, that doesn’t mean that the market will sell off or go down. It just means that over the last seven, eight years, we’ve had trades 86 and 88%. win rates on both of these. So we do like this kind of data, starting around 21, all the way into the next year, Jan 2520 22. So we know we have that on our side, from a seasonal perspective. So that answers that question. Now let’s look at it from a technical perspective. And first thing I see here is this large candle, this large, huge candle here taking down from 120, all the way down to 106. That’s a pretty large move, but it’s not as bad as I thought it was. So only about 20 bucks or so. Now, what I want to do is look at the longer timeframe. And I see that we have this candle here, which was the prior candle to the start of this large sell off, this was going back even further to about 118 down to about 65. So really large move. We haven’t been back up to this level since that sell off in 2018. So now we’re getting kind of this first touch here. You see the Daily we came we just marched up here after this earnings popped up here to the zone and now we’re consolidating so we got a lot of things going on. One thing I like to do is take a fib retracement from this swing high down to the swing low, which is right here. And you can see that we are now hanging out between the 618 and 76 retracement. So we’re clearly getting some rejection going on. Does it mean that we’re not possibly geared to go higher, but we do have a lot of odds on our side. Right. So we’ve got favorable seasonality, which we identify right here. We have a 786 looks what appears to be rejection at the 786 retracement right now into an area of price structure. So all I’m going to be doing right now is waiting for some type of additional confirmation. That could be we have I guess, somewhat of a pennant right here, a little pennant that we’re forming. So if we start breaking down here, that would maybe give me enough confirmation to go ahead and get short this I’ll likely do that by selling out of money bear call spreads. So it just takes me going through the chain, looking at the expiration looking at the Delta, implied volatility, things of that nature. And then I will look to be selling out the money bear call spreads. If you don’t trade credit spreads, you can look to buy put options, my first target is going to be down here this gap fill at one at 110. Pretty simple got a lot of support down here would be a gap fill 200 A moving support. So it’d be risking somewhere here but above 120. And we’ll call about five bucks from where we are today. But we’re looking to take it down to about 1051 10. So keep this one on the radar. And we’ll see if we end up trading this. [/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]
