SPDR S&P 500 ETF TRUSTUpdated SPY Surprise 400 close
Well today I was just as surprised at the market as when I go to my backyard and my geriatric dog leaves a dump on the concrete patio for me to clean… The first time we hit 400 the put play was so easy I literally had one trade today and got my mojo back! Next level to watch is 404 if it holds 410. Bears are setting up a trap or they have been covering there shorts and the squeeze is on along with dip buyers. We might hit 414 by the time CPI comes out on Tuesday pre market. Used car prices have come down 9% in the past 6 months which was one of the first things to takeoff in 2020, gas is down so maybe a 8.1 cpi we’ll see, anything below the previous 8.5 will just blast off the market. So are the feds going to over shoot only time will tell. Just like this week I thought Tuesday/Wednesday bulls Thursday/Friday bears then start Monday with the squeeze but I was wrong so what do I do adapt to the trend and go with it don’t fight it. I’m never bullish or bearish I just go with what the market gives me. As always trade what’s in front of you good luck. Have a great lotto Friday end the week green please
The Powell speech was ok just the same fight inflation so the 75bps will probably happen no matter where the market is so pump it up funk it
The Powell speech was ok just the same fight inflation so the 75bps will probably happen no matter where the market is so pump it up funk it
Note
It’s amazing how many people just want a crash so bad. What are you going to do. Peoples lives will be ruined. When we go down it’s not going to be a flash crash then bam right to the top again. It’s going to be years of fighting to get back up I rather stay the way we are then go into a recession. The day the feds stop raising rates gold will go up and we will be in a recession for sure and family members will lose jobs, people will lose homes cars will be repo things will be hard all around so please be careful what you wish for. Pay your debt save money and be ready to help your loved ones. I hope we do hit that soft landing either way I’m a trader that can turn on a dime adapt to the chart and moment. Just had to say this
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