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SPYvsGME
Mar 13, 2023 10:11 AM

Targets Above Long

AMEX:SPY1D
SPDR S&P 500 ETF TRUSTArca

Description

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The FED showed its hand and backstopping the banks.

Market is pricing in 25bp and pause for this months FOMC

Here are my targets above on spy:

Mar9 GAP 391.56
200D MA: 393.24
SINCE QE POC: 395.29
20D MA: 401.43
back to 25bp: 407.45
FEB16 GAP: 408.14
FEB2 HIGH: 418.31
AUG 19 TWBB GAP: 422.14
AUG18 TWBB GAP: 426.86

Comment

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Updated levels


200D MA 393.24
20D MA 399.26

Comment

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Rejected the 200D on the daily. I took some puts at lunch to hedge long position to 406 (~JHEQX call strike).

Rejection here would increase velocity to the downside.
Trend Analysistargetsfedpivotpause
Comments
SiFiPiDi
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I'm expecting a pump into mid-April at the least. If April CPI print comes in hot, that's when we fall. Thinking April or May. 2008 crash commenced a few months after the banks failed. Worst case is QE into hyperinflation, as I'm sure you're aware of ~ new Fed facility ensures that any banks with Agency MBS and bonds will be perpetually bailed out. Scary precedent to set for the future, in my opinion.

Good looking out!
wolffarchitecture
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totally agree fed slipped up, .25 to none next FOMC, bankers aint going to crashed the banks
wolffarchitecture
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@wolffarchitecture, J Powell blinked
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