Both the SPY and the QQQ are at their Weekly Expected Move lows. The Founders Group is taking a 5% position in each of the QQQ and SPY at the money October 15th calls. This is a risky move, and it is lacking an Algo buy signal but anticipates that the 80-day cycle low is in and this is a retest.
This is a nibble, with a stop 4 tics below the 9/22 swing low for both positions. Keep in mind that we are buying at the Weekly Expected Move low for both positions and in line with a full retest of the swing low for the QQQ.
This is not an official Navigator Algo Swing buy signal. The Navigator strategy remains 100% in cash for now. We pass the information along solely for informational purposes and highly experienced traders who may want to start nibbling in the downswing.
A.F. Thornton