Here's 4 SPY levels that are strong buy areas
In September 2022, $SPDR S&P 500 ETF Trust(SPY)$ crashed -9.34% but in October in bounced returning +7.99%.
You can turn $1000 into $10000-$20000 when this trade repeats itself.
Here's everything you need to know 🧵
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Here's 4 SPY levels that are strong buy areas (bookmark for reference)
1. $640 is 20SMA on daily chart
2. $630 is 50SMA on daily chart
3. $620 is KEY level showing massive support
4. $605 is where the breakaway gap and 200SMA meets
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Remember, the FEDS are planning to cut interest rates 25bp on Sept 17 and possibly 2 more cuts by year end.
This is extremely bullish BUT cutting rates into a market that is rising in inflation is not good. This is why GOLD is at all time highs.
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Here's 3 options I'd be taking when SPY finds support at these key levels:
1. Jan 2026 $650 calls (less risky and cost more)
2. Nov 2025 $655 calls (more risky and cost less)
3. Oct 2025 $660 calls (most risky)
SPY target for year-end is $675+
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