7/24/22 SPY 1hr chart
Break above 401.44 will make me bullish, break below 389.74 will make me bearish. FOMC July 26-27……. With major ER’s this week. If you do not have a clear understanding of the market I highly recommend you not to trade this week. We are in a triangle (I do have a iron condor, and butterfly’s covering that triangle).
Personal Belief: I think there is a lot of uncertainty in the market and we COULD get a sideways market this week. A lot of risk could cause traders to do what I recommend a lot of you to do, wait for FOMC, and all of the ER’s to report to enter where the market will tell on itself.
Personal Belief: I think there is a lot of uncertainty in the market and we COULD get a sideways market this week. A lot of risk could cause traders to do what I recommend a lot of you to do, wait for FOMC, and all of the ER’s to report to enter where the market will tell on itself.
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