The Rock Trading #TRT
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🕑 Added 2024-06-03 20:11:51 +0000 UTCAfter a rather bullish move on Friday, market gave back some of those gains. Typically, when tech starts running hot premarket such as $AMD $NVDA $QQQ a pull back is warranted to consolidate. But after the dip $SPY fell under 525 support, saw pretty good demand back up around 522 mark. We took this dip and ran with calls most of today. $SPY closed above the 20DMA just at 5DMA. Basically repeat of Friday's action.
Nothing too bearish so far as we start the month of June, which typically favor bulls. I can see a situation of fear as we head in to NFP print later this week, and of course CPI/FOMC next Weds. BUT I see that fear settle in later this week once our upside 530s target has been hit.
Plan Attached.
Good luck.
