SPY RIPPY RIPPY DIPPY DIPPY
The market was expecting some good earnings after hours but micro soft and goggle aren’t so hot. Goggle has the slowest year over year growth since Q2 2020 6%. Apple will be the biggest mover of the market if numbers are bad it’s over Johnny! Like I said yesterday in rallies in the 380s plan accordingly these earning moves need a crystal ball risk management is important. I’m looking at the possibility of a head & shoulder pattern forming if apple breaks down. The biggest news of the day is THE FED IS BROKE lol can’t make the stuff up. Congress will have to bailout the central bank, central banks around the world are paying more in interest. Falling bond prices mean paper losses on the huge holdings the FED and others accumulated during their rescue efforts in the past years. What does this all mean well I believe cuts will be happening sooner then later. The macro picture is such a hot mess. Now cutting rates doesn’t mean market goes RIPPY RIPPY it will do the opposite because things will be really bad. 2 trillion dollars in reverse repo. Trade your plan please be safe out there it feels like traps are being set. 3 minute open range is a good route in these days just cut it quickly if it breaks the low of the first candle on the 3 minute chart for calls, for puts stop-loss at the high of the candle. Today I missed the open and that was the low of the day.
As always trade what’s in front of you good luck
As always trade what’s in front of you good luck
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