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Fun_Bed9734 t1_iya4xvj wrote

395 held. I have my strangle for 400c/391p for SPY for tomorrow's data and JPow's speech. Have some cash left to go with whatever direction we go after that speech/Q&A. All signs are pointing to him being conservative and reiterating what other Feds have said, "there's a long way to go still". I just don't understand the pause narrative that some market participants are believing in. That's probably not coming anytime soon

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DaddyDersch OP t1_iyazct6 wrote

i wanna smack whoever started this pause/ slowing of rate hikes bullshit.

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Fun_Bed9734 t1_iyazk89 wrote

Me too. That's why shit has been in such a tight range. I dunno how many ways the Fed can say the same thing before it sticks lol

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BowlSmart9624 t1_iyawqx7 wrote

391 seems like would be a good support if fed is hawkish but if we break through that will get ugly

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DaddyDersch OP t1_iyazdog wrote

390.1 is a major support to watch for a bounce at

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Fun_Bed9734 t1_iyaxn0i wrote

That's why I chose a 391p. It seems the 20ema and 100ema are at 390 and 391 area. Let's see what tomorrow brings. I do believe PCE will show another sign of inflation going down too, but what JPow says will be very important

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