Week Ahead: June 21, 2022 - SPY 380 coming; Fed speakers all week; consolidation.
Economic Calendar: https://www.marketwatch.com/economy-politics/calendar | https://twitter.com/DeItaone/status/1538077173944311808/photo/1
- Fed Speakers galore. I guess since they were locked up for a couple weeks pre-FOMC.
- Tuesday - Existing home sales at 10am; Mester at 12pm; Barkin at 3:30pm
- Wednesday - JPow testifies before Senate on monetary policy at 10am (!); more Fed speakers at 12:50 and 1:30pm
- Thursday - JPow on same topic, but to House at 10am; normal THursday data at 0830.
- Friday: New home sales @ 10am, Fed speakers at 1pm and 4pm.
On Watch
- All these Fed speakers. They are the main market movers this week.
- Expect to see hawks and doves both flying around
Thoughts:
- We’re 30 points away on SPY from pre-pandemic level (336). Seems highly likely to get there, eventually.
- Oversold: Weekly, 4h
- Not Oversold: Daily (barely), 1h, 30m
- Futures are pushing SPY to 371.50 right now. That’s nearly +10 from Friday’s low. That seems a bit too ambitious looking at the chart.
- That said, with some of these oversold conditions, it was definitely due. 363 looks like an extreme bottom put in - for now. Kudos to anybody who scooped that up.
- I think we’re going back to 380, but it needs to consolidate around 367-372 first.
- I won’t be in a hurry to buy on Monday, but I’m bullish (temporarily) for sure and looking for 380 in the near-term.
- SPY levels: 354 > 362 > 368 > 372 > 380
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Maverick's Moves
Created By: | Maverick |
Created: | Feb 8, 2021 |
Total Followers: | 13 |
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I trade SPY, QQQ, and specific story sectors using technical analysis and gut rubs.
I'll post my thoughts and market moves here.
Twitter: twitter.com/stonks_maverick
Substack: mavericksmoves.substack.com
I'll post my thoughts and market moves here.
Twitter: twitter.com/stonks_maverick
Substack: mavericksmoves.substack.com