SPY Chop Begins
As discussed earlier we are heading into a choppy zone for SPY before a big break out. Today Finished as a failed 2 giving a good Put set up. However we know the that we are heading into a choppy zone. Scalps only using price action and wait for a clear set up. We are going to leave this zone. Not sure if we will break the top first or not though. I personally see SPY having a big drop in the future in 2023. It doesn't make sense that we are heading into a recession and that stocks will rally during that. We haven't really hit the recession yet but the newest jobs data and consumer reports we are now fully lining up to be in one. When it truly hits I believe we will see new lows. Until then, play price action and wait for clear set ups.
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