What Happened? - 

• Friday was a nasty day for the bulls. The range was 363 to 370 and we had a nice short covering rally in the close. 
• All eyes are on AAPL and whether it can hold on to the all important 150 level. A weekly close below this level, and we could see a downward move come fast and hard.

What to Expect on this Week (all times are EST)?

• We have a lot of Fed Speakers this week. Check the full calendar here: stonks.chat/feed/catalysts
• Monday - LaGarde speaks at 9am EST. This will have DXY implications 
• Monday - A few Fed Speakers as well throughout the day
• I will enter the next few days in tomorrows preview, but know that Friday has PCE data and that is the biggest event of the week imo. 

Current Positions and Plays:

• I sold all of my puts for a major win on Friday. I went ahead and grabbed a starter put at the close on that short covering rally. I will most likely close it out at the open if it is green. If it goes red, then I will probably hold it until Thursday before PCE data on Friday. 

What Do I Think?

• SPY Technicals - The 30 min, 1 hour are slightly above an oversold reading. The 4 hour chart and Daily are now just in oversold territory. 
• SPY Fibs for ATH to 2022 low - 362 is the .000 line. This looks like where we are headed. 
• SPY Fibs for COVID low to ATH - 380 is the .382. 
• Keep an eye on the DXY and if it starts to crack or not. It is an inverse indicator for stocks.

THE PLAYS OF THE DAY for FRIDAY for SPY:

• I think we are in for a few weeks of chop. I am seeing a 10 to 15 point range with us probably setting new lows at 355 and then just staying range bound up to 370.
• Scenario 1: SPY tests or gaps below 362. This should get a bullish reaction back up to 370. 
• Scenario 2: SPY bounces and retests 373. This is a fade the rip scenario and will create a good opportunity to enter a put.
• Scenario 3: We consolidate between 365 and 370. This is just a sit back and wait for a level test to make a decision. This could work out some technicals which could make entering puts attractive again. 
• The next major data release that can bring Bulls hope is the PCE data on Friday. I am not seeing anything until then for bulls to hang their hat on. 
• NOTE: I am turning into a swing trader for various reasons, so please keep that in mind moving forward. My options plays will be always a few weeks out because of this. 
• This is not financial advice

Levels I am Watching

• $SPY - levels 356 (200 SMA) > 360 > 362 > 367 > 370 >373 > 375 > 380