NPP Trades Daily Recap 6.8.22
The Quick Recap:
That’s pretty much what’s it’s been like watching SPY this week. Lotos of back and forth but not much movement. This is what is called consolidation. And because it’s occurring above the 21ema, I think it’s bullish consolidation. But as I said yesterday, we are likely in a holding pattern until the CPI number Friday which likely breaks us out of the range either up or down. I still think it’s going to resolve up to hit our light blue downtrend line/green 50sma line target, but price will tell us. Above 417, get ready for 421/425, possibly 430. Below 405, get ready for 398/394, possibly 390.
I am still long a full position of SPY that I’m averaged in at 412. And I am now long 7 Swing trades in individual names, the most I’ve been long in a while. I’ll go over all of my trades in detail for paid subscribers below in the More-Detailed Recap.
The More Detailed Recap:
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