$SPX A +100% winning setup last friday

The top of the implied move, based on the previous night's (Thursday) close, was 5635, and that is exactly where we saw resistance. So if you sold 5635/ 5645 bear call spread's with me on Friday then congratulations on the winning trade. And that level was also right in the middle of the down gap that we started the month with. This chart set up is from my video on Thursday before fridays Trading session.

This week, the FOMC decision on Wednesday is pivotal. The market has eagerly awaited this moment all year, expecting a rate cut. However, caution is advised: the market might have already priced in not just one, but several future cuts. Remember, rate cuts often signal economic instability, aimed at mitigating further economic damage and easing pressure on struggling sectors. Stay vigilant; a rate cut isn't always bullish.

Historically, rate cuts can precede market downturns if they indicate deeper economic issues. The market's reaction to Fed's actions this week could be volatile.