• SPY was in an easy breezy range of 383/390.
• 🏆”Scenario 2: We open at/around 384/385, strong tailwinds, maybe DXY heading down, we’re on the way to 390.”  Which was immediately apparent at the open, but I barely traded it.  Silly.  
• I was profitable for the day, but I was in the shallow end of the wave pool.
• Nothing really happened today.  The bullish strength just pushed on.

• Reports: Non-farm payrolls @ 0830.  Traders are putting more focus on this than the FOMC minutes.
• It will be purely about non-farm payrolls and that report’s impact on Fed hawkishness.  And our normal lines.  There’s nothing else pushing the market around right now.
• DXY - the big elephant in the room - showed signs of taking a breather today at/under 107 - that’s good news for the bulls.  I don’t think DXY is done though.  110 is coming.
• SPY levels: 375 > 380 > 385 > 390 > 395
• Chart - Weekly: Bearish - but it’s trying to break the trend - doubt it happens now.
• Chart - Daily: Bullish on RSI, but those clouds are getting very close - may cross.  On watch.
• Chart - 4h: Bullish 
• Chart - 1h: Just shy of overbought - still jut a littttle room to go (395?)
• Chart - 30m: Hit overbought again.  This is looking spicy / bull trap.

• Repeat of yesterday: I don’t feel strongly about anything.  Fundamentals all say we’re going to hell.  Technicals say we’ve still got some gas in the tank for a rally to 390/395.  Be disciplined and nimble, we may be at the end of a bull trap.
• We’re going to have movement after the data drops, so…
• Scenario 1:  We open up over 390, it’s looking at 392 and maybe 395 - but that’s it.  I’d take puts out at 393/395 and hold over weekend.
• Scenario 2: We open under 385, it stair steps down to 380 - that will probably hold for the day.  I’d just observe.  This cowboy isn’t messing with 380.
• Good luck on Friday and have a great weekend!  See you on Sunday.