S&P 500 Standing At Crossroads After 3 Day Losing Streaks ↕️🤔

Thanks to Tiger for awarding the weekly top predictions for QQQ! Managed to lock in 180% gain within 70 mins on Friday. A truly blessed week without a single red day 🙏

The S&P and Nasdaq dropped 1.3% and 1.9%, respectively, for their first negative week in three. Stocks rose slightly on Friday but logged a losing week amid renewed worries that the Federal Reserve may raise rates more than previously expected.

SPY was climbing about 0.4% at one point on Friday, shaking off market fear caused by reports that China may ban its public workers from using Apple's iPhones.

Blue or yellow channel trumps next week?

Investors are optimistic that the Federal Reserve may choose to hold interest rates steady when it meets next on Sep 19 and 20, boosting a positive sentiment in the market, despite recent data showing the economy remains strong with borrowing costs at the highest level since January 2001.

Some technology stocks that have struggled in recent sessions found their footing. After two straight losing days, Apple inched up 0.4%. Microsoft and Salesforce rose about 1%. Other names, including Nvidia and Tesla, fell more than 1%.

When bad news is good news

Investors may have found some comfort in the lack of bad news during Friday’s session following a string of stronger-than-expected economic data points earlier in the week, said Bryce Doty, a senior vice president and portfolio manager at Sit Investment Associates.

“When you think of the economy, it’s a Catch-22 for investors,” he said. “If it looks like we’re going to avoid the hard landing, we get some good economic news, and there’s a sigh of relief quickly followed up by an increased expectation of Fed rate increases.”

Buy call right at open

Buy call 1

Buy call 2

Buy call 3

Buy call 4

Sell weekly covered call

Buy put to short weakest link

Recent economic data, including lower-than-expected initial jobless claims, have reignited rate hike fears and concerns that the Federal Reserve may have more work ahead.

As of Friday, traders are pricing in greater than 4 in 10 chances of an increase in November after an anticipated pause in September.

Weekly option trades summary

Please click Like 👍, Comment 💬 & Repost 🔄 this article found at the bottom of your screen. Follow me for the latest news, trading ideas & strategies to ride the market daily with profits! 🤑

@CaptainTiger @MillionaireTiger @TigerStars @Daily_Discussion @koolgal @KylerLee @Aqa @Andreana