$SPX Tomorrow’s Implied Move for PPISP:SPX Tomorrow’s Implied Move for PPI
Alright, y’all. Implied move over here for tomorrow is between 5740 (and the 30min 200MA is just underneath that to 5820 (which is just above all time highs.
We consolidated back to the 35EMA and if that holds, look up to ATH’s and possibly even to 5820. I’ll be looking to 5835?5845 bear call spreads, and 5840/5850 bear call spreads to the upside.
If we break the 35EMA then look to the 30min 200MA and if we get to that then I’ll be looking at 5715/5710 bull put spreads on the day, and 5720/5710 bull put spreads as well as a back up.
Here we are also holding above the rate cut gap after FOMC. It’s my opinion that we need to go in there and test it for real support but so far we’re bullish - watch Stupid Willy here for either a return to the green or a breakdown here to the 30min 200 on the day.
— Storm update: I’m so good, but I don’t have power so I can’t make videos until that’s fixed. Until then I’ll be posting charts here when I can. 🙌🏼