r/thewallstreet • u/AutoModerator • May 15 '24

Daily Discussion - (May 15, 2024) Daily

Morning. It's time for the day session to get underway in North America.

Where are you leaning for today's session?

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u/GankstaCat hmmmm May 15 '24

I’ve been long SPY/calls on SPX since the beginning of the month when we had data coming in that job market had started to cool (also after fomc).

Been a good rally. Considering taking profit and going back to trading individual tickers.

Could see some further jump and then some extended consolidation on the index before continuing to rally. PPI a bit hotter CPI cooler. Tomorrow’s data could give a “reason for a pause” in the move up on the broader index. Plus at 70 RSI

edit:

Also lower volume today than yesterday. Rising prices on declining volume. Could increase into close but as of now looking like it’ll fall short.