Tight range
Shared this on Sunday (in my video):
As for the upcoming week, I think SPY should likely move around a tight range, probably around 393 to 400 ish.
When the market is trading in a tight range, it is often the institutions that are making money. That said, retail investors can still reap profits either by selling options or scalp trading.
Anyway, next week shall be key
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Bawlz09 : lol 493-400 is the exact range it's been in for weeks now, aside from that little uptick..
but I do think Monday is going to pop over 400 again, or it's gonna fall to 382 next week..
possible gap fill finally.
Now although the nearest futures put us at over 400, and there is an uptick in the wavetech, meaning spy going up, I've had mixed feelings due to the vix bring on such a long red down trend, and finally popping back up off the 20 line, so it's controversial, however I have to stress that the vix projects volatility, not necessarily a crash down...
lol just random half arsed thoughts..
keep up the work. and good luck
Cow Moo-neyOP Bawlz09: I'm thinking next week’s CPI would be key. It will make or break the psychological level of 400.
And yes, I agree with you, that VIX projects volatility; and one should not rely solely on VIX to make investment / trading decisions
Good luck to you as well. Have a good weekend
Bawlz09 Bawlz09: hey hey sorry I'm just getting back around to this yeah that range now was like some of the best trading I've done and I knew that range was getting ready to you know be there basically after hearing paper traded up to 1.598 million with a lot going on and being homeless basically you know trying to get my shit together and not really sleeping at all not doing a whole lot of post and pre-market stuff just kind of gut feeling they just come to me a lot of times like this rally here yeah I bought the bottom on paper lol
.. the Vicks though the thing about the vix is it's not the same as it was before 2020 now it has changed now and we're not really going to get those huge spikes like before you know from like $10 to $720 we're going to probably have a spike to $45 and at some point now but I figured this rally would come back and retest at some point but it's been retesting every single day if you haven't noticed now if we we got down now and then we start the morning going up a little bit and we come back down and we do that reversal we feel that Gap and we do another rehearsal and start heading back up and you know so easy to trade but I get scared because I'm trading with my phone now on 4G hotspot from my other cheap phone lol .. now I did turn it about 50 bucks into 600 you know in a couple weeks, but it's risky Business trading like this.. I just had to pay $200 to get my electric on and I finally got my keys to many place but now I'm broke haha I don't have a TV anymore come to think of it it sucks when your baby's mom takes everything you've ever owned and then your other baby's mom does it 10 years late
.
sorry anyways good document and good talking to you cheers