TRADE PLAN for FOMC Wednesday 📈
There's 2 levels to watch for $S&P 500(.SPX)$ the next 3 days.
1. Above 7500 = Bullish
2. Under 7400 = Bearish
3. Between 7400-7500= More chop.
If you find yourself taking 50 trades a week with SPX stuck between 7400-7500, You need to size down and stop trading. Wait for the momentum first. There's a chance they raise rates tomorrow. If that happens, SPX to 7000 can come fast.
We need to see Memory stocks and Chip stocks catch a bid and bottom out before going long again. Be patient and stay on your toes tomorrow. It's going to be a volatile one.
Good luck everyone!! 🫡
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