US market forecast for July 2022

The reference point in July in SPY for me will be the price range of 400 – 365. Of the significant dates, I would note the 15th of July. On the 15th, large volumes in put options will expire.

Volumes by series in SPY July 2022

If between July 11-15 the price is near the 380 level, then carefully monitor the volatility. At levels 380, 370, large volumes of open positions in put options begin. They can be the catalyst for a downward movement. After the 15th, the downward movement will stop.

Open Interest in SPY July 2022

If the price is around $395 on July 11th, I’ll start selling calls. If the fall starts on the 11th, then you need to wait for the levels of 365-360, and by the expiration of volumes on the 15th, you can think about selling put options.

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