Market Day Ahead - June 24, 2022 - SPY - futures may push it over 380; 385 in view; low volume Friday
What Happened Today (Thursday)
- As I mentioned, I wasn’t going to be in any hurry today - and I wasn’t.
- I did two SPX calls and both went fine. I had one mid-day that met my goal for the day, then did a lotto end of day for 50%. That was fun, maybe too much fun, already thinking about doing another tomorrow.
- There was no news of significance today - it was largely a consolidation, we bottomed out 373 at lunch and topped out 378 end of day. Easy peasy.
Looking Ahead (Friday)
- Bullard in premarket (730am). Thats about it.
- In futures right now we’re over 380. Why? Not sure, something kicked it off at 8:30pm EST.
- SPY levels updated, up a little: 368 > 373 > 380 > 385
SPY Trading Plans (Friday)
- I am dropping 380 as my short-term top for now. I think we’re going to push over that before the open on Friday
- I am expecting Friday to be a low volume, green day for the bulls.
- Scenario 1: If we break over 380 and hold that for the first 15 min — I’ll buy calls (10 days out), looking for 385.
- Scenario 2: We don’t hold 380 15 min after the open, I’ll consider puts - but only if there’s heavy volume. It’s going to be a low volume day and bias is to the bulls, I think, so I don’t want to play with too much fire.
- Another day I won’t be forcing any trades. I am really most interested in scenario 1 on Friday
- I’ll probably do a Friday lotto as well (very small in the last 30 min)
SPY 4h
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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