$SPY ready for the relief bounce?

$SPY reached its new low for this year as the market extended its losing streak for this month after the fed decision last week meeting. One of the main factors of the sell-off was inflation and shortage of commodities due to back log and covid restrictions. in my personal opinion, i think $SPY will continue to make lower highs or lower lows. Any rips or bounce can be treated as a fake reversal until we go above the 200 or 100 moving average.

Day trade or scalp target play: 05/09/22

Buy call above 405.28 sell at 411.09 or above.

Buy puts below 396.59 sell at 391.45 or below

option open interest: ideal expiration date: (risky) 06/17/22, 7/15/22

Hello everyone,
Welcome to this free technical analysis . ( mostly momentum play )
I am going to explain where I think this stock might possibly go the next day or week play and where I would look for trading opportunities
for day trades or scalp play.

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Comment:

This analysis played out well yesterday. hope you guys able to caught some of the move.