SPY: Week of Jan 13th

6 dni temu

Lots of thoughts but generally undecided.

In summary:

• I expect a bit of a bounce up to the 582 range.
  
  
• I expect a ton of volatility given the economic catalysts which will make it incredibly challenging for day traders attempting to trade it.
  
  
• I would caution starting a short position if you are not already short and wait to see how it treats the bearish triangle it has broken down from.
  
  
• Expect upside to the reference target at least at 582 ish.
  
  
• Expect a whole lot of whipsaw!
  

Safe trades everyone!

And those wanting the implied range from options indicator:

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Zlecenie aktywne

Well I guess its up for now.

I closed out of my shorts on the sell on Tuesday because it didn't make a whole lot of sense with PPI being at expectations and figured CPI would be at expectations as well.

I was long on TSLA into CPI and still long on it now.
I am also just net long on SPY.

There are some longer term high prob targets I have been withholding as to not bias people too much in one direction. But will maybe talk about those in the next idea. Maybe.

Let's see how this plays out but I suspect it will continue up for a bit longer.

The 2 forecasted scenarios with a continuation up are:

1) Correction mid year or,
2) Commencement of a bear market into EOY.

So we'll need to be mindful but as of now just continue riding the long train I suppose.

Safe trades everyone!