To The Moon

⚠️ $SPDR S&P 500 ETF Trust(SPY)$ is approaching a critical test next week.

CPI and PPI data could determine whether the market sees another leg down.

Here's what I'm watching 👇

📉 THE TECHNICAL PICTURE

• Trading below the 20 SMA and 50 SMA.

• A massive red candle signals strong selling pressure.

• Today's bounce attempt was rejected. Bulls failed to push prices higher.

• The 200 SMA (purple line) sits around 730, and SPY has already broken below it in premarket trading.

Right now, the chart gives bulls very little reason to get excited.

I'm watching for lower levels before considering new entries.

🎯 MY NEXT SPY LEVELS

1️⃣ 716–724: First Support Zone

This is my first downside target. There's a good chance SPY tests this zone next week, especially if CPI and PPI come in hotter than expected.

2️⃣ 697–702: Critical Support Zone

If selling continues, this is the next major area bulls need to defend.

With NVDA and MU earnings also coming up this month, their results could add another catalyst for market volatility.

📅 WHAT'S NEXT?

• Next week: CPI & PPI

• Later this month: NVDA & MU earnings

• December: FOMC meeting

A lot of catalysts are coming up, and volatility could remain elevated.

💡 My plan?

Stay patient. Watch the levels. Don't force trades.

If the market gives us better entries, I'll be ready. 🚀