# Oct. 21 Recap

https://preview.redd.it/0ejobhnhidv91.png?width=1176&format=png&auto=webp&s=72fdede7fb6e0e21c340b537a0a763fd3dcffd64

Volume picked back up. Good for bulls going into Monday. Need to follow through.

https://preview.redd.it/cm1vgkcjidv91.png?width=1456&format=png&auto=webp&s=f5ad3b308bea6de552bbe5f435aa7750ee653cb1

SPY broke-out of three-day downtrend. It traded in a nice parallel uptrend.

https://preview.redd.it/hkzh42xkidv91.png?width=1456&format=png&auto=webp&s=76ceee0d5e0f57132be70c2ea273e544e9e04d28

SPY nearing rectangle resistance.

https://preview.redd.it/n4lyt5fnidv91.png?width=1456&format=png&auto=webp&s=9d77e621d80373c9b6652315cef58a21c3274641

SPY bounced at the 20 MA (currently at 366.00) on the daily.

https://preview.redd.it/c5nukcvoidv91.png?width=1456&format=png&auto=webp&s=66a1c8b91acf539e8fef08ef650177ae08ff1b2a

SPY opened and bounce at PMH and PDL and exceeded 368.05 on scalping chart. SPY traded in a falling wedge for the next hour and half or so. It broke out 9:20 UTC-6 and retested. It hit 372.30 full measured move at around 11:47 UTC-6. SPY traded in a flat-top triangle and broke-out with a double bottom. It hit 374.30 full measured move EOD. We closed slightly under the 375.08 price on scalping chart.

https://preview.redd.it/c0bqrukqidv91.png?width=1456&format=png&auto=webp&s=52a3cc423931303da9f3ce5e6a4c23f2a5523f0d

I made one trade today and called it a day. Played the wedge and scaled out on way to resistance. Left some runners that I got stopped out on.

https://preview.redd.it/5j2qoqvsidv91.png?width=1456&format=png&auto=webp&s=1f405afbd2e33a6e92dd72e1039fbde4ac2e575d

https://preview.redd.it/2xc27krvidv91.png?width=1456&format=png&auto=webp&s=ce022fa3207fd877d616f996c4a49df4c0b02ab3

# US Market Wrap – Financial Juice

>Another day of big reversals on Wall Street, with stocks posting their best week since June after a treasury rout stalled. The yen rose after reports that Japan may have intervened once more to support the currency.
>
>It’s no surprise that all the drama in the world’s largest bond market would dictate sentiment at a time when traders have been obsessed with the outlook for interest rates. After being all over the place in early trading, stocks rose sharply as bond yields fell from multiyear highs.
>
>The next step in the US central bank’s anti-inflation campaign will be to debate how high to raise interest rates and when to slow the pace of increases. St. Louis Fed President James Bullard and his San Francisco counterpart Mary Daly both stated that they expect the discussion to be on the table at the November meeting, while emphasizing the importance of continuing to tighten.

# Need to know market risk – Financial Juice

>**\[12:10 ET\]** Japan intervenes in the FX market to support the yen – Nikkei.
>
>**\[11:56 ET\]** Fed’s Daly: We will do a step-down, not to pause, but to 50 or 25 BPS increments.
>
>**\[11:48 ET\]** Fed’s Daly: According to projections, policy will be tightened to 4.5%-5% next year.
>
>**\[08:52 ET\]** Fed set to raise rates by 0.75 point and debate the size of future hikes – WSJ. 

# Economic Calendar

https://preview.redd.it/4ko57t91jdv91.png?width=1456&format=png&auto=webp&s=9b50a1caca38ecaa66ed3d0d2ad7515a1775adb1

# Earnings

https://preview.redd.it/1dar0im4jdv91.png?width=640&format=png&auto=webp&s=755ac7086cefaa29f543c207b0928c7b77164296

# 🕵️‍♂️ I SPY TA

Fib. Levels

* Downside targets:
* 368.42
* 362.18
* 350.38
* 341.65
* 330.11
* Upside targets:
* 377.69
* 384.96
* 390.08

https://preview.redd.it/0der5h08jdv91.png?width=1456&format=png&auto=webp&s=bdd283e378d8985553374ab1babe044b281af882

Bulls closed well above the 20 MA. The 20 MA currently sits at 366.00. It’s important for bulls to follow through. If we can trade out of this smaller rectangle -highlighted in blue, I believe that we will see 380 and then decide from there. It’s do or die here IMO as GOOG, AAPL, MSFT, META, and AMZN report next week. Beats and FED talk about pivoting could give us the Nov. midterm rally to 390 – 400+.

https://preview.redd.it/cpm35qe9jdv91.png?width=1456&format=png&auto=webp&s=3d3e243df69ad84c78c567ebbadda36276be1268

## 30 min. Rectangle

* Resistance: 375.45
* Middle: 368.12
* Support: 361.48
* Bullish half measure: 382.55
* Bullish full measure: 389.79
* Bearish half measure: 354.41
* Bearish full measure: 347.39

https://preview.redd.it/33m1sz4bjdv91.png?width=1456&format=png&auto=webp&s=e35b43e3c5b52bdae63deecb258558946344d8cd

## 4 hr. Rectangle

*Update: Nearing Resistance*

* Rectangle top: 379.46
* Middle: 367.62
* Rectangle bottom: 355.81
* Bearish half measure: 345.75
* Bearish full measure: 335.60
* Bullish half measure: 389.55
* Bullish full measure: 399.75

https://preview.redd.it/th3yxredjdv91.png?width=1456&format=png&auto=webp&s=e1b96a09251472552eb5b9d65cfe01122a6c3164

# Scalping Chart – Best on 2 or 3 min. Timeframe

* Break 375.08 and look for 377.99 – 381.41
* Break 381.41 and look for 384.51
* Break 384.51 and look for 387.41 – 389.34
* Break 389.34 and look for 391.73
* Lose 374.30 and look for 372.26
* Lose 372.26 and look for 369.41
* Lose 369.41 and look for 365.95 – 364.53
* Lose 364.53 and look for 362.17 – 361.37
* Lose 361.37 and look for 359.17

https://preview.redd.it/1dvi93ggjdv91.png?width=1456&format=png&auto=webp&s=ebada533b60341c6e271b0c3219c8b26dfe6c04b

Notes:

* Key for bulls to hold 369 – 370 resistance breakout level if we backtest on Monday.
* Eye on 375.08; 377.99; 374.30; 372.26, 370
* 15 min RSI: 76.62 (overbought)
* 65 min RSI: 67.55 (near overbought)
* 4 hr. RSI: 61.58 (bullish)
* Day RSI: 51.11 (neutral)
* 2 min. RSI bearish divergence printed EOD.

https://preview.redd.it/cdh9fexhjdv91.png?width=1456&format=png&auto=webp&s=c651082af3be99e1fd673ddcba0beca275693c3d

* 2 and 5 min. MACD bearish divergence printed EOD

https://preview.redd.it/kad82qmjjdv91.png?width=1456&format=png&auto=webp&s=8fe1f2d8587996112be80d07d59aed24e0fff8b5

https://preview.redd.it/fx6yxkxkjdv91.png?width=1456&format=png&auto=webp&s=d8be408ded0a1cb729e33cfaf1537e3e9fb35d4d

* Netflow – 1 Day – Puts and calls decreased. Puts more so than call.

https://preview.redd.it/qwabrrjmjdv91.png?width=1456&format=png&auto=webp&s=3f657cba88af292f9f8618aa91041cbc0fc95a52

* Netflow – 5 Day – Puts and calls decreased

https://preview.redd.it/ufcd1bcojdv91.png?width=1456&format=png&auto=webp&s=f297810c3bcbe2fe0c828987854d4eabc0ec13d7

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