eda
2023-04-04

😊
@Asphen：
FED Bullard wants >5% rates; Market continues to defy with 2Y Bond Yield dropping - Follow-through "controlled" buying on Monday, pushing SPY beyond 409 resistance; And finding the middle of range of area of balance <== Shared in earlier posts that there is an area of balance from Jan/Feb between 407 and 416. - Any cooling off could happen any moment now, or else, "controlled" buying continues to bring it to 416 - Watch the reaction on Thursday 6 Apr as catalyst on Friday NFP is released on a non-trading day (public holiday) - Tech was pulling back on comments by FED Bullard saying above 5% rates - 2Y bond market however, still drops ==> Also could mean money is flowing to bonds and safety counters in SPY - Note QQQ also has an inside bar (relatively bearish) Upside : 416 Downside : Fib 38.2 is at 400 (anything above 400 remains a bullish pullback) Personally, I am backing off from long put positions and slowly closing them whilst building short calls. Good luck, all! @TigerStars @CaptainTiger @melson @LMSunshine @Deposit $SPY(SPY)$
FED Bullard wants >5% rates; Market continues to defy with 2Y Bond Yield dropping - Follow-through "controlled" buying on Monday, pushing SPY beyond 409 resistance; And finding the middle of range of area of balance <== Shared in earlier posts that there is an area of balance from Jan/Feb between 407 and 416. - Any cooling off could happen any moment now, or else, "controlled" buying continues to bring it to 416 - Watch the reaction on Thursday 6 Apr as catalyst on Friday NFP is released on a non-trading day (public holiday) - Tech was pulling back on comments by FED Bullard saying above 5% rates - 2Y bond market however, still drops ==> Also could mean money is flowing to bonds and safety counters in SPY - Note QQQ also has an inside bar (relatively bearish) Upside : 416 Downside : Fib 38.2 is at 400 (anything above 400 remains a bullish pullback) Personally, I am backing off from long put positions and slowly closing them whilst building short calls. Good luck, all! @TigerStars @CaptainTiger @melson @LMSunshine @Deposit $SPY(SPY)$

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