🕵️‍♂️ I SPY, QQQ, IWM TA - Monday Nov. 22, 2021

Nov 21, 2021

∙ Paid

Nov. 19 - US Market Wrap - Financial Juice

Stocks declined as a result of aggressive comments from Federal Reserve officials and growing anxiety that a new wave of the pandemic in Europe could prompt more lockdowns.
Companies that are economically sensitive, such as oil, banking, and industrial stocks, have fallen, while the technology-heavy Nasdaq 100 has outperformed major benchmarks.
The treasury curve flattened after two members of the Federal Reserve's board of directors suggested that, in light of strong economic growth and increasing inflation, the Fed may need to consider speeding up the reduction of its bond-buying program. The dollar increased.
While stock prices are approaching all-time highs, bolstered by strong earnings, a viral comeback may halt the economic recovery at a time when inflation is at an all-time high.
Austria was the first country in Western Europe to adopt sweeping restrictions. Non-essential businesses were also closed in areas of Germany, and the Netherlands had previously ordered shops and bars to close early.
Biden's centrepiece plan to extend the social safety net, confront climate change, and reform tax policies passed the House of Representatives on Friday morning, with House Rep. Speaker Pelosi uniting divided Democrats to send the bill to the Senate, where its fate remains uncertain.

Volume totals reflect options traded during the current session (11/19)

About 6 touches since Nov. 5 @ 470.59 ish (R1)
At median of parallel channel
If bulls can establish support above 470.59 I believe we can see 481.57 - 490.73 before Jan. 21 exp.
I will begin to worry about a downturn if we cross 462.53.
- If 462.53 breaks I’m looking for a bottom at 453.85 - 448.56

470/474 Debit Call Spread - 12/1 - 38% Probability of Profit

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