That nasty red candle from yesterday changed things. Price bounced off the short term trendline support today. We will see the market going crazy with no clear direction on the upcoming days. Buy I still think the SP500 will make another ATH. In the 4h timeframe looks liken a HS but I don't think is going to play out. We are in another consolidation phase. I'm still accumulating punished stocks like SOFI, ROKU, AFRM, UPST, RBLX. Inflation is not going anywhere, the Dollar peaked out months ago, the market wants assets, the asset holder will triumph on an inflationary environment.
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SPY likes to do that thing:
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I bough calls Expire 04/16, strike 514
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Well the market went against me. I sold covered calls against my long positions, not all but enough to pile some cash. We may see a bounce a test to the 510 zone even a false break up. I'll use it to buy puts. My current calls probably expire worthless.