TRADE PLAN for Tuesday 📈
Hello everyone! Today i want to share some option strategies with you!
$S&P 500(.SPX)$ and $Invesco QQQ(QQQ)$ faded from the highs today. Most likely we'll see another consolidation day before $Meta Platforms, Inc.(META)$ earnings on Wednesday. I would tread lightly until AFTER FOMC on Oct 28th. $S&P 500(.SPX)$ needs to base above 7700 and $Invesco QQQ(QQQ)$ above 727 to look more bullish this month.
If we see another flush in the market, $S&P 500(.SPX)$ ot 7500 and $Invesco QQQ(QQQ)$ to 685-693 in play before a real bottom forms. We saw a glimpse of panic last Friday but nothing real yet.
$Micron Technology(MU)$ dropped 20+ from the highs, $SanDisk Corp.(SNDK)$ dropped 40+ as well and $Advanced Micro Devices(AMD)$ dropped 17 points, Chip and memory names to show relative strength otherwise let the market drop...
RISK OFF until FOMC. Good luck this week everyone! 🫡
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