SPY LAST DAY FOR FEBRUARY

28. Feb. 2023

Finally we are done with February tomorrow along with September they are the worst trading months of the year normally. So the talk is all the rates are priced in and earnings are not that bad. So once again the YEAR OF CONFUSION continues. I’m thinking we stay range bound until the FOMC meeting on the 22nd to see if they do the 50 points that’s the only way we make a new low again. The way Powell has been I’m not buying the rumor of 50 points. Now with that in mind the idea of cutting rates this year is the only thing not priced in so come November or sooner we should see some action on that front. I’m thinking range bound for some time will be the norm between 380 and 430 for some time. A boring market for swingers and great for scalpers, you can’t be greedy in this type of situation take your base hits and keep playing the game if there’s a perfect pitch then hit that home run but always trade your plan. Last week was the worst since December so buy the fear will kick in just go with the flow
As always trade what’s in front of you good luck