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The weekly post and for SPY 0.00%↑ and QQQ 0.00%↑ should be reviewed prior to this. Link to Market Analysis for The Week Ahead and the supplemental weekly video VIDEO SUPPLEMENT
We have arrived at the major spot from the Year ahead plan. This does not mean that it is an automatic buy. We discussed my lean for where this could be going in last night’s plan and almost certainly if this spot doesn’t hold. We have NFP tomorrow and with any kind of bearish reception this major spot is at risk of getting gapped. While I closed my puts today and went neutral with index ETF exposure, it isn’t because I have any certainty that this is a bottom. That said, I am very much monitoring to see if this spot can hold, and the market can find a meaningful low.
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