Stairway to heaven or a high dive board?

[idbefishing]

SPY monthly chart……crazy

https://www.tradingview.com/x/hDBaAgGa

[boneil]

Certainly looks like a high dive, but could be only half way up.

As long as the economy grows, the market will go up. The frustrating part is when the market consolidates and corrects through time instead of getting lower prices. Which is what I think we are in for, a long 1 to 2 year side ways market as the Fed does their thing with taper and eventual rising rates. At this rate, I think it will take a war with China or alien invasion to get a meaningful bear market.

[NitroZ7]

Looking to put a bunch in JEPI if we get a dip. I expect a sideways market with volatility. Just watched an interesting macro analysis that the next few years may be similar to the late 60's early seventies when we had a lot of growth and then moved into a higher interest rate inflationary period. If we go sideways with volatility the the premium on covered calls should be higher.

[idbefishing]

updated chart........buckle up gents, gonna gets ugly if we don't bounce off of the trendline. I hope we do.

Nitro, you gonna sell some calls?

https://www.tradingview.com/x/s7bZ5AIm/

[NitroZ7]

updated chart........buckle up gents, gonna gets ugly if we don't bounce off of the trendline. I hope we do.

Nitro, you gonna sell some calls?

https://www.tradingview.com/x/s7bZ5AIm/

Actually sold a call about 3-4 weeks ago on Spy. Closed it out today and will probably write another one next week.

[apenland01]

My JEPI just sold on a 2% trailing stop at $61.49. I got some good dividends from it and it appreciated nicely. May buy it again in the $58 or lower range if that happens in the next few months...

[NitroZ7]

My JEPI just sold on a 2% trailing stop at $61.49. I got some good dividends from it and it appreciated nicely. May buy it again in the $58 or lower range if that happens in the next few months...

I'm still waiting for the 55 level. That distribution should go up if we see a big increase in volatility. I talked to JP Morgan about this etf and they said a 10% distribution is what they expect in a more volatile market. Just waiting for a nice correction in next 2 months but I guess we will see.

[idbefishing]

Well…6% drop ain’t too bad. Any perma-bull got caught on the wrong side?

[boneil]

looks like we're not done yet. Thats ok when you're heavily invested in TSLA