Good afternoon O$ members!
As you can see in the chart above for the ES Futures, we’ve been ranging between 3820 (which has acted as a great level of demand/support) and 3900.
Last week we enjoyed a great play on SPY puts when we broke 3900 and dropped back down the next day giving us a 190% gain. More and more, the most profitable alerts are the ones that have been shorter term. When the market is trading sideways with a favor toward bearish behavior, there are simply going to be more plays issued that favor getting in and out rather than long term holds.
Negative sentiment in financial news media is going to be all about the upcoming recession, increased credit and debt use, and homeowner hardships in 2023.
If the futures reveal a break out of our current trend, be ready for a short-term SPY put or call play this week to capitalize on the new direction.