• SPY traded 382 - 388.50
• I had a SPXp over the weekend.  I couldn’t explain the drop from 387 on Friday to 382 on Monday, so I locked in the profit.  I got cheeky and put in a trailing stop.  That worked against me because the open spiked so fast, it skipped right over my 2-point trailing stop.  It was a $400 order type mistake.  I should have just hit it with a market order.
• I sat on my hands all day, then started chewing my arm off to buy a call at 386/387, kept resisting until the close and almost high of day for a SPXc.
• I was resisting because it wasn’t in my outlook for the day - quite the opposite, actually - so I was trying to avoid.  Oh well.
• Crypto got whipped on Sunday night at 10pm EST - don’t know why.
• I saw some minor news across the globe, but nothing that explained crypto + 5 point SPY drop.

• SPY levels:  373, 380, 390, 396, 400, 405, 410
• Chart - Weekly: Bearish - It’s curling down now, so it should continue generally down on a weekly interval for a while.
• Chart - Daily: Neutral - needs a fundamental kick for any big move either way.
• Chart - 4h: Bullish - this one turned a little bullish on Friday - continued on Monday - and looks good for Tuesday.  I wouldn’t use this chart heading into Wednesday, though.  Depend on the Weekly.

• Reminder: FOMC is Wednesday at 2pm EST.  See my Week Ahead for my thoughts on that. https://stonks.chat/group/7/posts/671
• I continue to expect Wednesday to be a positive event.  I don’t think it will last long - until Thursday afternoon - but I do expect it to be green.
• I am guessing that’s what we’re seeing a little bit of right now.  It came off 382 and got right back above where it was on Friday night (387) and is now sitting at 389 in futures.  That’s a solid 7 point move off the bottom today.
• Since today went against what I expected (pop at open and slow bleed all day, all Tuesday, and flat Wednesday), I am wondering if we’re getting bullish optimism like CPI leading few days.  I can see it and I think it’s probably right.
• On the flip side, I can see people running scared ahead of JPow - for good reason.
• I’ll probably exit these calls at the open if they’re profitable and then try to sit back and plot my Wednesday move.  I’m expecting it to jump over 390 at the open, then go back and pay its respect, then we’ll see where it goes from there.  If it respects 390, it will be chop all day.

• If we’re over 390 at the open, I’ll exit this one SPXc that I have, purchased at the close around 388.50.
• I don’t see a trade if that happens, I think we’ll just gyrate around 390 all day, so there’s nothing to do.
• I will probably bench myself after that and just wait until an A+ setup for Wednesday shows up.