SPY - wicked day with FOMC. I was slightly bullish for the 3rd day in a row going into today. We saw some upside before the news was released. SPY ended up tanking with the news results and closed as a super bearish engulfing day. Because of this wild movement, we had 0 inside days show up on the scanner, so for tomorrow I will mainly just be watching SPY, GME, and my scanner intraday for some hourly/15 min setups.
My prediction for SPY tomorrow:
SPY is incredibly bearish for tomorrow. I am expecting us to test the 390 level and eventually break lower at some point during tomorrow's session
Best play from my previous watchlist:
MRNA - we had a 3-1 daily and I was hoping for some upside on this one, but we got downside instead. Not surprising given that we had tested a FVG 2 days ago and rejected it, and also just the fact that the markets tanked so much in the afternoon. MRNA still played out beautifully though if you entered when we broke yesterday's low. Cons ran roughly 30% from entry to where my personal TP would have realistically been just looking back at the candles and today's movement. Ended up running 57% at peak from entry, which actually happened to be where the cons closed at for the day.
Additional notes:
I find that days following FOMC tend to have decent price action, and I tend to be green most days following FOMC news. With this in mind, I am looking forward to trading tomorrow. As always, best of luck
My prediction for SPY tomorrow:
SPY is incredibly bearish for tomorrow. I am expecting us to test the 390 level and eventually break lower at some point during tomorrow's session
Best play from my previous watchlist:
MRNA - we had a 3-1 daily and I was hoping for some upside on this one, but we got downside instead. Not surprising given that we had tested a FVG 2 days ago and rejected it, and also just the fact that the markets tanked so much in the afternoon. MRNA still played out beautifully though if you entered when we broke yesterday's low. Cons ran roughly 30% from entry to where my personal TP would have realistically been just looking back at the candles and today's movement. Ended up running 57% at peak from entry, which actually happened to be where the cons closed at for the day.
Additional notes:
I find that days following FOMC tend to have decent price action, and I tend to be green most days following FOMC news. With this in mind, I am looking forward to trading tomorrow. As always, best of luck