How often does the Market reward both when they are aligned?
Not often.
Rare to see both seeking Prices to move higher, and potentially why Wall Street will shake things up with a few surprises. Volumes declined significantly yesterday.
In all probability, they will attempt to entice both Lower and create a chase into new Lows.
GDP Revisions may have the desired impact on Thursday.
Friday will be the Maximum Mix day with intense volatility.
It's what I would do, were it my job to frustrate as many market participants as possible.
Areas of interest below for the SPY - 407.35 / 408.11 / 409.88 with the Pivot at 410.2.
For Friday's Expiry, the Range is 410 to 416 for Retail, the SPX will lead once again, the possibility of a large but unapparent disconnect is why we see Max Pain fail time and again.
Large Traders have been ranging the SPX with a larger sell-side favor intraday as well as into September, on balance they are quite heavily positioned for further downside.
Apple appears to be looking at the 164 fill, with the Markets coiling up the break in either direction will be quick and dirty.
Crypto looks quite weak, BTC may revisit the 19K level shortly.
With the expectations of Markets ranging into Jackson Hole and Powell's 10 AM EST Speech on Friday - Friday is a simply massive Macro Data Day.
8:30 am PCE price index monthly 8:30 am Core PCE price index monthly 8:30 am PCE price index year-over-year 8:30 am Core PCE price index year-over-year 8:30 am Real disposable incomes 8:30 am Real consumer spending 8:30 am Nominal personal incomes 8:30 am Nominal consumer spending 8:30 am Trade in goods, advance 10 am Fed Chair Jerome Powell speaks at Jackson Hole retreat 10 am UMich consumer sentiment index (final) 10 am UMich 5-year inflation expectations (final)
Financial Media flipped to Seasonal Volatility and a return to questioning the longevity and validity of the move off June's lows - too fast, too much.
Fear / Greed Index remains relatively Neutral - tinyurl.com/mrnaydnu The Federal Reserve has reduced The Balance Sheet by $115.755 Billion.
Inflation will remain high for 1 to 2 years according to Goldman Sachs.
Trade Safe, patience wins this week as Friday's OPEX will be a criminal affair.