Some scenarios. it all depends on what Jerome Powell is going to say. if what he says and its actually dovish. i dont feel like theres that much room to the upside on the spy. i feel like the easier trade will be if hes hawkish and we get downward action. because if hes dovish we have alot of resistance up there. we have the gap fill. then you have 425. where this was previous support. then theres another gap. so this level up here this whole area is resistance its going to be a tough zone. then you have 200 D moving average at 430. we have a good bit of resistance up there.
so if he's dovish i think its a trade. maybe get a day or 2 of upside. before a pullback in September. i think September we get a pullback. even if he's dovish maybe you get upside for a one or two days. maybe you go back into the 200 day on the daily (blue line) if he is dovish and you get upside tomorrow you probably get something like this (3 bars i drew going into 200d ma) ..and then reverse. and that starts then a pull back in the month of September and thats what i think we get in the markets. so im just saying even if hes dovish and its all good news maybe you get something like this, then that reversal candle. so be cautious. resist fomo and "to the moon". all that. if hes hawkish then i think thats something you can hold for alittle bit longer/ trade wise. thats my game plan. you dont have to trade this on your own.
(this is getting super long) thank you for reading, i hope even if you dont agree it put some thoughts in your head and maybe can be more prepared for what ever happens. if youve been having fomo. or resisting fomo. your opportunities awaits. you havent missed out. anyways, cheers and thank you if you truly have read to this point. Happy Days!
if you want more specifics ( i know you don't ) about the net short hedge funds and being overly cash heavy. the santa claus rally. the link is right below to my post yesterday. if you found any of this interesting. drop a like. im working to get better at this and condense my thoughts or just make better quality post. till next time.
so if he's dovish i think its a trade. maybe get a day or 2 of upside. before a pullback in September. i think September we get a pullback. even if he's dovish maybe you get upside for a one or two days. maybe you go back into the 200 day on the daily (blue line) if he is dovish and you get upside tomorrow you probably get something like this (3 bars i drew going into 200d ma) ..and then reverse. and that starts then a pull back in the month of September and thats what i think we get in the markets. so im just saying even if hes dovish and its all good news maybe you get something like this, then that reversal candle. so be cautious. resist fomo and "to the moon". all that. if hes hawkish then i think thats something you can hold for alittle bit longer/ trade wise. thats my game plan. you dont have to trade this on your own.
(this is getting super long) thank you for reading, i hope even if you dont agree it put some thoughts in your head and maybe can be more prepared for what ever happens. if youve been having fomo. or resisting fomo. your opportunities awaits. you havent missed out. anyways, cheers and thank you if you truly have read to this point. Happy Days!
if you want more specifics ( i know you don't ) about the net short hedge funds and being overly cash heavy. the santa claus rally. the link is right below to my post yesterday. if you found any of this interesting. drop a like. im working to get better at this and condense my thoughts or just make better quality post. till next time.
Comment:
well i slept in but im guessing he wasnt dovish. and indeed that 417-419 area was sellable or a put option loading zone. we got down to 409 with plenty time left in the day. and of course i said we wouldnt just butter through 408/407/406 area. but over all. not bad at all. hope you made some money and plenty of trading opportunities to come. #NoFomo
