Still PRE-FOMC so take this with a grain of salt.
What have we seen thus far? Reclaim of 20sma? Kind of... hasn't closed above it in the time period of supportive flows.
Where's it at now? Still in pattern of downtrend.
My supports as listed for the next few weeks. I'm still short.
FOMC may alter short term momentum and price, but medium term --> I think SPY dies to 404, 398, etc.,
Trade idea (IF FOMC goes as planned and FED raises 25 bps) : 03/25/22 SPY 420p
Good luck traders.
What have we seen thus far? Reclaim of 20sma? Kind of... hasn't closed above it in the time period of supportive flows.
Where's it at now? Still in pattern of downtrend.
My supports as listed for the next few weeks. I'm still short.
FOMC may alter short term momentum and price, but medium term --> I think SPY dies to 404, 398, etc.,
Trade idea (IF FOMC goes as planned and FED raises 25 bps) : 03/25/22 SPY 420p
Good luck traders.