SPY Breakout

SPY and Markets potentially reacting to FED futures pricing in a pause for the current rate hike cycle.

SPY pushing towards the upper bounds of the chart, I think we might see some squeeze action before coming right back down.

Be on the lookout for potential cracks in the economy that may force the FED to change their plan. We might still see lower prices before moving upwards.

My time frame for this trade is 6+ Months...

Only time will tell.

Comment:

Nice push

Trade active:

Short from 460 resistance zone

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First Target is 440 on SPY, Second Target 430. We will observe the reaction from there.

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460 resistance seems relatively strong so far...

Trade closed manually:

Short closed 448 on SPY

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Nice bounce off the weekly low of 433.

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Big reaction

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Currently looking to build position at the critical zone with a low of 410. We've got some more downside to come.

Trade active:

418 support so far holding up

Comment:

LONG 200MA, if we break below I will close the trade at a small loss.

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Added to my Qs position @ 412.50

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Easy money. Golden pocket FIB level will be very important. Are we able to break above, or will we reject. Im going to go ahead and take some profits regardless, but If we break above we may be primed for a sharp move up.

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Alternate scenario can also be the following. Keep in mind, GAP above at $456, and GAP below at $423. I feel like these gaps should be filled before the market can pick a true direction to move into.

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Looking for pullback to fill the gaps below us. Entry would be around 420-425.

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coming down

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Arriving at resistance

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Potential we fill the gap at 456

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Exactly as predicted, 6 months on the dot