SPY WHATS NEXT??!!

It appears the spy has found a landing zone, and may now be in the accumulation phase, Using the Wyckoff Accumulation method, I analyzed what may occur over the next few trading weeks. In the short term I believe SPY is bullish and looking to retrace to the .618 Fib resistance ($390) within a few days and eventually retracing the .786 fib ($400). After that Based on the wyckoff method, it may breakdown, given the marco-economics of the entire market being bearish , with alot of fear and uncertainty amid a recession on the horizon (if were not already), and the feds hawkish aim to control inflation , we may have a sell off that could lead below previous lows, as highlighted in the chart.

Strategy 1: buy $400 calls expiration 8-19-22
Sell: First Target price $390 followed by $400

Startegy 2: If SPY reaches $400, Buy PUT 21 days from expiration ideally strike of $390

Alternatively SPY could break over $400 and continue to rally and possibly reverse to the upside despite macro conditions.

DISCLAIMER: I am not a financial advisor, I do not advise anyone to buy or sell anything, these are just my own ideas for my own use, trade at your own risk.