6/15/26 Recap

The SPY gapped up on the peace agreement between the US and Iran that was finally signed yesterday. Friday we got that close over the 21 ema for the first time in 5 sessions confirming the end of the downtrend and we followed up with this news. The deal isn’t the end of everything, there are still many things that need to be finalized but for the next few weeks we should be in the clear until they either hammer out a real agreement or things flare up again. Now we have a large gap below just over 740 and that’s your level to pay attention to for a gap fill. I would focus on selling puts into that for now instead of chasing the gap up.

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