Good Afternoon,
A quick update with a few charts. I truly hope this rally continues into the remainder of options expiration week so I can buy some puts for July, but I am not hopeful.
To the SPY:
We lost 40 points going into today's close and based on the past few weeks, that doesn't bode well for the next day's trade. Until we rally significantly or selloff to more attractive levels, I am not married to any trade. Also, we have 2Q earnings starting soon - will they report less "shiny" results? If they don't I expect 3Q to do so, but it just depends on where the markets are to see if that presents an opportunity.
Fortunately, we had enough movement in forex to garner a BUFFALO BOUNCE in the AUD/USD. We almost got one in the EUR/USD, but not enought oomph I guess.
Happy Trading and be Environmentlly Cool
Coach Brian
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