Market Recap July 11 2023
$SPY $ES
Pre-Market Analysis
Buy programs defended the 171 again. Under that level, stops “may” get triggered and those buyers “may” become sellers to get out of their positions.
While the MA’s are currently stacked to the sell side, MA’s expand and contract. *Be careful when the MA’s are moving sideways (in the middle of expansion and contraction), this usually means chop/mean reversion.
Wait for A+ setups here. Don’t rush/anticipate/fomo. Practice patience and wait for the market to align to what we need to see to expose our capital to risk.
