ok
@ZEROHERO：$SPDR S&P 500 ETF Trust(SPY)$ 16% profit from taking calls. ⚠️ Looking at calls above 399.4 and puts below 397.4 on Wednesday. Market likely to be muted before FOMC rates hike. Please stay away if you can't take the volatility during the announcement. Can always wait for the market reactions before taking any trades after the speech and interview. 🚨 Please SIZE DOWN, Do Not FOMO and Lose Money - better to stay away! 🙏 SPY Technical Analysis: Testing Key Resistance Ahead Of FOMC The chart attached shows price action filled and broke the upper channel trendline from my SPY post yesterday (Please refer to that strategy highlighted). It's now retesting that trendline waiting for a breakout on FOMC day. SPY is now testing a multi-resistance region, which includes the $400 psychological level, the 200-day moving average and the 50% Fibonacci level of the February-March bearish range. These are key technical hurdles that SPY needs to overcome first in order to rise above March highs at $407 and then trying to assault the 78.6% Fibonacci retracement of the February bearish trend. The daily momentum indicator (14-day RSI) rose above the 50 mark for the first time since March 6. How Could SPY React To March FOMC Call? The FOMC meeting on Wednesday will be a critical event in dictating the SPY's upcoming path. Markets have nearly completely discounted a 25bps hike, but what the Fed plans to do beyond March will be crucial to monitor. If the Fed pushes back against market pricing, which anticipates a terminal rate of 4.9% in May and two rate cuts before the end of the year, and reiterates its commitment to battle inflation, stocks may see a return of volatility, with SPY attempting to find support around $392 (50dma). If the Fed reinforces the need for liquidity in the financial system and temporarily halts efforts to fight inflation, this would likely feed investor confidence in stocks, and SPY may attempt to hit March highs of $407. 🚨 If you find the info useful, I'd appreciate if you could click on 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! 🤑 @TigerStars @CaptainTiger @MillionaireTiger @Daily_Discussion @Tiger_SG @TigerPM Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments