SPY - SPDR S&P 500 21:52 PM - Oct 17 2022
by: Maverick

Stock Market Day Ahead - October 18, 2022 - SPY 360/375 range; it’s up to the bulls with these earnings and no economic events….

What Happened Today (Monday)
  • SPY traded ~364 - 368
  • Futures soaked up majority of gains today, there was little to be had in normal session; it rode VWAP all day
  • It was due for a bounce after Friday’s whipsaw, as Sunday technical section noted


Thoughts - Technicals (Latest):
  • SPY levels:  350, 355, 358, 363, 373, 380
  • Chart - Weekly: Bearish - trend down continue…we know where we’re going…but it does look due to a bounce this week.
  • Chart - Daily: Neutral - mixed chart at best.  MACD is looking both ways confused.
  • Chart - 4h: Neutral - lean bullish for this week

Looking Ahead (Tuesday-Friday)
  • There isn’t really much to say for rest of week.  I had a pretty good brain dump on Sunday’s Week Ahead - be sure to read that - https://stonks.chat/symbol/SPY/posts/281
  • Technicals above are from Sunday as well - no change there and so far, playing out nicely one day in.
  • This looks like a week or so for the bulls if no ‘shock and awe’ earnings surprises - even bad is probably okay
  • I wanted to hold calls overnight so bad, I was biting my arm off, but stayed on sidelines because overnights have been crazy volatile lately. 370 in afterhours already. 😭

SPY | SPX Trading Plans (This Week)
  • Very lightly - will continue to trade Oct 31 SPX calls - but always being out by EOD.  The surprise/energy is to upside this week.
  • I’ll be building up my Nov 31 SPX 3550p position starting at 370, 373, 380

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SPDR S&P 500 - SPY

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