$SPY solana:J3NKxxXZcnNiMjKw9hYb2K4LUxgwB6t1FtPtQVsv3KFr
Patience will be rewarded. Market after Warsh seems to have been flagging and bears really have nothing to work with here as well. No bear gaps open. Bull gap from last week present, although the trendline rejected.
Just purely based of Price action bulls are still in the driving seat and unless we see a bear of the lower trendline it is hard to be really bearish with the bull gap fill (green) acting as support.
As mentioned previously, patience and see the price action and which sector is getting the money rotated into. $QQQ definitely lagging the other indexes the second half of the year and #Bitcoin trying to reclaim the strength so that is something definitely to keep on watch.
Sticking to the levels, Bulls need 775 to op3n 800 for this year. The dip in September will be welcomed with both hands to buy into the end of the year honestly. Bears with a true dip in September I see a possibility to 754-750. I don't see the market dipping under that level into Q4 and also a zone where I would love to pick up some positions.
Somethings to consider, Rate Hike into Mid-Terms? What are you betting on?
Bond Operation for 9/9. $TLT will be going higher. If $TLT goes higher #Bitcoin higher and $USD lower. Just the correlation to watch.
TRADE IDEA OF THE WEEK: $MSTR I am not very confident on this one but will make a video on it and post it out soon. I am only basing this off the relative strength.
Part 3 of options trading learning to be out today as well.