Spy 7/20 make or break
Updated
Well I was wrong with yesterday’s prediction seems a lot of people and algos think 390+ Is good. .618 made a full extension I may need to move the fib higher if we break 393.16. Let’s see what tomorrow brings. Labor demand has dropped, housing demand has dropped and income has dropped. Macros are all there and they are nasty I can keep going on them. Maybe they are pumping the market for a 1% bps fed hike? But one thing is for sure we have a triple top that needs to break that fib level to fill that gap. As always trade what’s in front of you don’t fight the trend good luck see you tomorrow
Note
Next week FOMC on the 27th then GDP Q2 on the 28th those are two huge dates keep that in mind while trading don’t let a trend day change the way you trade or look at thinks. Sorry for the update wife is watching the goonies so my mind is wonderingNote
Is this rally because of the DXY the dollar going down I totally forgot to check the chart this week take a look let me know what you think I suggest doing a stack layout with DXY and ES1
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