After A 100 Point Squeeze, Is It Finally Time For SPX To Pullback? June 19/20 Plan

As readers know, I got long via the provided entry Thursday at 4405 via my core pattern - the failed breakdown - and this evolved into a fantastic 90 point rally and one of the best trades of 2023. As readers also recall, this has now been 4 weeks in a row where the Thursday or Friday rally tendency tracked (which I identified 3 weeks ago), and the last 4 Thursday or Friday’s have produced ~115, ~115, ~60, and 100 point rallies respectively.

Today was OPEX day, and I wrote yesterday: “OPEX days are notoriously horrible trading”, adding “Its OPEX Friday, ahead of a 3 day weekend, after a parabolic rally, and this is worst possible configuration to trade in”. This was certainly the case, and we spent all day in messy, rangebound chop.

For 4+ weeks now, the Thursday/Friday squeeze has lead to Monday-Wednesday correction. Same in store next week? In today’s newsletter I’ll be talking this, providing a good overview of some of the actionable setups this week