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Trade Recap: 400%+ SPX Put

Why I took puts on SPX today:

1) Was watching both SPX and SPY, and SPY was rejecting a pre-market high.

2) SPY rejected a level I posted in the morning of 409.38 (literally walked through this on my stream this morning before spaces, youtube and twitch.)

3) SPX opened up super weak on volume and activity. Was suspecting a gap up and drop based on psychologically big money wanting to get out stop losses.

4) SPX rose in price with lowering volume.

5) Once it had two shooting star candles, it looked like it could reverse.

6) MACD was crossing red.

7) Stochastic RSI was very oversold.

8) We were at the top of my trendline on the daily timeframe that I have been talking about.

Took one contract on the second shooting star candle. Took another contract once it passed below vwap. Waited to see if it would push through 9 EMA and once it did, had my target of 4057 which I posted earlier before open.

Confidence Level: 8/10

Risk Level: Medium

Conviction Level: 7/10

Number of Chains: 2

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