Updated

SPY: Last week of July

Hey everyone,

Expect a volatile week this week.
This week will be our make or break. It either sets the tone for a crash or a recovery back to an ATH.

The most likely outcome is TBD.

These are just my thoughts and not advice.

Safe trades everyone!

Note

High prob on the week is 548.
So expect at min to reach this level.

Note

So now that we have taken out the 548 and some change high prob, will be interesting to see what FOMC does.

Keep in mind we are at the top of the range on ES already so it is a bit concerning.
Will be an observer for today, but will be interesting to see I am sure!

Note

I am long for the long haul now to SPX's target.
Long QQQ and SPY.

IMO we have bottomed, we didn't retest the 99 target at 537 and support is holding.

On the off chance we break below the 537, then yeah, we would look for the cubic mean in the 520s (current 528), but I just see it as being unlikely.

I won't update on SPY anymore because there is nothing more to say until we hit the target.

Good luck!

Note

for your reference

Steversteves

If you're looking for:
- Live Updates,
- Discord access,
- Access to my Proprietary Merlin Software,
- Access to premium indicators,
Consider joining my trade group at:
patreon.com/steversteves

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Steversteves

If you're looking for:
- Live Updates,
- Discord access,
- Access to my Proprietary Merlin Software,
- Access to premium indicators,
Consider joining my trade group at:
patreon.com/steversteves

Also on: