3/27 Recap. Sideways For Longer Is A Real Possibility.

SPY

This continues to just trend along within this broadening wedge. I’m starting to feel like this is what we’re going to do for alot longer than we already have. We already haven’t done anything in a year and actually the Nasdaq is negative going on 25 months since Biden stepped into the Oval Office. With the wedge broadening and us being unable to breakout or breakdown for 3 weeks now, I can’t help but feel that this is our new normal. Just a back and forth where nobody wins, except those who sell puts looking for the market to do nothing. You have your defined levels below, over 400 you go long and below 382.50 you go short and as the wedge broadens those will continue to spread which makes me think the sideways move will continue.

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Today’s Unusual Options Activity & What Stood Out