SPY: Week of April 10th

8 Apr 2023

Hope you are all having a great start to your long weekend!
In between dinner preparations and spring cleaning, just sharing thoughts for next week.

I have no opinions on SPY for next week. We have FOMC and CPI and you know, it doesn't even matter. Last FOMC results were pretty bad with JP's speech and it still rallied pretty hard, sold the next day and then immediately recovered to higher highs. So really have no idea what to say about this.

Math projections are in the chart.
Overall, its bullish in projections. IWM is also kind of bullish in the projections mind you these two have deviated form each other quite a bit lately (I will post an IWM idea).

Last week, I confined my bigger trades to those 99 targets and that is hopefully the plan going into next week, just go big to the 99s if the setup provides. I can share those as well if the setup is there (I will do my ush Monday video with trades/etc.). I don't love the projections on anything thus far, mind you most things are still hinting at a continuation in bullishness with some moderate pullback.

SPY is not on my playlist, MSFT/NVDA are my like tie breakers in lieu of SPY and then my usual IWM and probably BRK.B and BA if we have a good 99 there. But if you were to play SPY, my general thoughts are:

1. Seems across the board, the projections all agree 411 will be seen next week.
2. The other really high prob target is 405.52. Look to pullback to this area.
3. Reference target is 409 so look to that area as a POC.
4. Its probably best to wait till after the FOMC announcement to play the move, last FOMC move was just such a nightmare.
5. There is definitely a preference towards bullishness at this point.


My immediate thoughts.

Safe trades everyone!

10 Apr 2023

Nota

I was incorrect about FOMC, its FOMC speakers. My bad! Just CPI is what I would be paying attention to this week.

Safe trades!