Hi all.
Making another post. Initial predictions for January were pretty good (albeit wrong catalysts) so thought I’d share my current thoughts on the situation.
Thought SPY would tank in January. And make an attempt to rebound in February. Here we are mid March. IMO failed to convincingly bounce off the $420 support line with lower highs on each bounce. Chart analysis TA leads me to believe that we will enter a bearish zone. Next support possibly being $400-405.
Catalysts involved: current inflation on everything and US governing officials handling of the situation in Europe. European markets are good precursors to US stock markets. And European stocks have seen their first green weekly gain since the start of the conflict. Strongly believe in a bear wave to come — followed by a strong bounce off the fore-mentioned support zone.
Unlike my other posts where I was too scared and ignorant on options trading, I placed 1 put for SPY $420 Apr 22 and 1 put for QQQ $320 Apr 22 of 2022.
Any comments on political garbage will be ignored. I am keeping emotions out of this and am only speculating a reaction from potential catalysts.
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