TRADE PLAN for Wednesday
Sharp sell off today in $S&P 500(.SPX)$ and $Invesco QQQ(QQQ)$ after the gap down.
$S&P 500(.SPX)$ 7620 is a key support level.. if this level fails we can see a sell off to 7580,7550 next. Puts can work under 7620 tomorrow. I'd wait for 7700 for calls.
$Invesco QQQ(QQQ)$ if 702 breaks we can see a flush to 693. Puts can work under 702.
There's been more escalation in the Iran war and the Treasury yields + Oil are also rising. Lots of headwinds over the next 2 weeks. Risk off for now as long as $SPX stays under 7700 and $Invesco QQQ(QQQ)$ under 715 in September.
$Micron Technology(MU)$ not quite ready yet for a rally higher, it popped up 40 from the lows then reversed back to 933. Once it can move back above 960 it can test 1000.
Good luck tmrw everyone!!
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