This market is range-bound at the moment. $SPY is stuck between 395 and 390.
The market truly might be waiting for next week for a big move. We’ve got November CPI on Tuesday and the Fed on Wednesday.
Here are today’s trades:
- I bought $SQQQ on Nov. 29 at 47.94 and 48.09, and then on Dec. 2 I added at 44, then 45. I sold today at 48.10. I had a feeling that the large move last week was not sustainable.
- I bought $AMZN at 88.08 and sold at 88.50.
- I bought $ABNB twice, one loser and one winner. I bought at 90.23 and sold at 88.18. I bought back at 89.88 and sold at 91.
- I bought $JWN at 17.83 and sold at 17.85. It was not moving.
I closed another swing trade at a loss today:
- I bought $ZIM on Nov. 30 at 21.04 and sold today at 17.80.
I have three open positions: I’m short $MS, and I’m long $PAAS, $M, and $SHOP.
A true break above 398 on SPY can get this market trading higher. But if we break below 390 and stay below there, we can see 385.
All Star Charts Team