Will we revisit June lows?
The CPI miss last week destroyed the rally that the markets had put in, and we are at a pivotal point where a break of long term support could mean that revisiting June lows becomes a real possibility. Since next week brings another binary event with it (Rate Hikes), no amount of technical analysis can help navigate this market. Wednesday is the one and only deciding factor as far as market direction is concerned.

AUDIBLE VERSION OF MY BOOK IS COMING NEXT WEEK
Release Date : 08/15/2022
Amazon link: https://www.amazon.com/dp/B0B781VTZX
The latest edition of my book is available free to all Kindle Unlimited members. An audible version of the book is due to be released in approx. 10 days. If you are wondering how somebody can listen to an audio book with technical charts and financial data, I must say I am pleasantly surprised by how well the book turned out to be. The narrator who I worked with is incredibly talented. As you listen to the book, you can glance at the accompanying charts available right here: https://25k.link/images
I hope you will find “Reading the markets like a Pro,” “The 2022 market correction,” and the chapter on “Scaling up” particularly useful. If you do get the book, kindly drop a review or even just a star rating for me. It will be greatly appreciated.
Link for review
https://www.amazon.com/review/create-review/?ie=UTF8&channel=glance-detail&asin=B0B781VTZX
Market moving events next week
- Rate Hikes and Powell speech on Wednesday – CPI data has inflicted max pain on these markets. But we are not done yet! Next week brings rate hikes with it. Any ugly surprises from the Fed can pull these markets into the dark depths of June lows.

Earnings – ACN, COST, FDX reporting on Thursday
My hands will mostly be tied until Wednesday and I plan to take all my trades between Thursday and Friday. It is good that the only earnings of interest next week also fall on Thursday. If markets turn around and I take bullish trades next week, ACN, COST, FDX may generate some trading opportunities.

Macro Analysis (VIX)
Markets are nervous and I am seeing many technicians on financial websites painting doom and gloom scenarios. VIX is clearly reflecting this as we are back in correction territory. I will spend Monday and Tuesday scoping out both Call and Put Spread ideas and share the list with you so we are prepared for whatever comes our way.

Spread Tracker
See notes on the image below. I will be spending my Monday and Tuesday preparing a list of call and put spreads in preparation of whichever way the market goes. I will share the list with our group by Tuesday end so you are prepared for whatever Wednesday brings with it.

Key Takeaways
- Rate hikes and Powell speech on Wed.
- I will not open any new trades until Wed.
CHEAT-SHEET
We are falling back into market territory, and a bad market reaction to the Fed Hikes next week could mean the summer rally (What rally?) is over

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