What Happened on Monday?

• SPY Day Range: 357.67 - 364.21
• I expected a calm day but we had a lot of random news come in to make it an exciting day. 
• US Airports getting cyberattacks, Russia mentioning they are open for diplomatic resolutions with Ukraine, Railroad Union rejecting the latest deal... It was a wild day for the news. 
• Monday marked the second time we closed below the June lows.
• But even with all the negative news, SPY kept bouncing back over 360. Something to keep an eye on. Market is looking for any spark to hold this level. 

What Am I Looking Out For This Week?

• We have a lot of important economic data this week. PPI, FOMC Minutes, CPI (!), Retail Sales and the start of earnings season with big banks reporting. This is a busy busy week. 
• With the CPI data coming up on Thursday, we got a chance for the peak inflation theory to re-enter the discussion if that report comes in cooler. Not likely, but something to monitor. 
• Can SPY defend the June lows and stay above it on the week? This is the big technical item on watch for the week. 

Current Positions and Plays:

• CORE Position: SPX 3600p for 11/18 -I ended up closing this out at the close when we had that nice move down in the last 5 mins. I do expect some sort of small bounce before CPI, so I will just hold off until that event. 
• Scalps - I am getting back into scalp trading as well when the setups merit it. This means waiting until 10:30am and let my intraday Fibs have some data to work with. 

Economic Data this Week (all times are EST)?

• We have a lot of Fed Speakers this week. Check the full calendar here: stonks.chat/feed/catalysts
• Tuesday: Nothing major
• Wednesday: PPI at 8:30am (This one is interesting as it is before CPI this time)
• Wednesday: LaGarde Speech at 9:30am (This has DXY implications)
• Wednesday: FOMC Minutes at 2:00pm. I am not expecting much from this since a lot of Fed speakers have echoed what these minutes should say. 
• Thursday: CPI at 8:30am. This is the main event. Strangle play opportunity here. 
• Friday: Retail Sales Data at 8:30am
• Friday: UoM Consumer Sentiment at 10am

Earnings this Week:

• Thursday Premarket -  Delta (DAL), TSM and Blackrock (BLK)
• Friday Premarket - JPM, MS, C, WFC, 

SPY Technicals - 

• SPY Technicals - The 30 min, 1 hour, 4 hour and Daily are just slightly oversold. One gap down and we will be in severely oversold conditions on all the charts. I would prefer all these to be neutral heading into Thursday.   
• SPY Fibs for ATH to June 2022 low - 362 is the .000 line. Bulls are clinging to this line. They have to hold onto this level otherwise it drop very quickly to 358. 
• SPY Fibs for COVID low to ATH - 380 is the .382. 349 is the .500.
• SPY - The 200 Weekly SMA is 358. The bulls need to keep this level.

THE PLAYS OF THE DAY for TUESDAY for SPY:

• The Asian market is showing some major weakness on Monday night and that is spilling over into the US Futures session. I will be interested if this negative slide holds at the open.
• There is not really anything worth playing with a large position with us just a few days away from the major economic reports. So I think you just stick to small scalps with the bias to short any pop. 
• I will be waiting until 10:30am and see if I can set up some intraday Fibs and try and identify any scalps. 
• 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 353 > 355 > 358 > 360 > 362 > 367 > 370 > 373