Overall we got a failed breakout move. I got overly long biased on the powell comments expecting that push on 329-330 area in preparation for the drop. Stepped away and took it a bit on the chin on the break down. Came back to see the yank on SPY and loaded up short on the SPY puts on that pop into 327.40. Overall IMHO we head one of two ways, unless market rally strongly over 327.50. we test 323 bounce and go sideways chop for a couple of weeks or we break 323 and flush 320 and then need to see.
Overall bias is to short any strength, so ideally get dip and rip on the open into 325.50-326 and then get short for all day selling target 320-323 area into Friday.
Take a look at any strong e/r winners from last week for a long such as INTC and CTXS for potential swing flows off lows.
Earnings After Close
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