From the Desk of Kimmy Sokoloff
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.
Look for the Morning Briefing on Thursday.
And please reach out with any questions.
All Star Charts Team