From the Desk of Kimmy Sokoloff
Some would say this is a big week.
With the Fed’s Jackson Hole Economic Symposium on deck, all eyes will be on Jerome Powell.
Now we need to see if this rally lasts.
If so, $SPY has near-term potential to 441.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
Some would say this is a big week.
With the Fed’s Jackson Hole Economic Symposium on deck, all eyes will be on Jerome Powell.
Now we need to see if this rally lasts.
If so, $SPY has near-term potential to 441.
by David
From the Desk of Kimmy Sokoloff
After a volatile week finally Friday is here.
We had a few good trades to end the week. [Read more…]
by David
From the Desk of Kimmy Sokoloff
Inflation worries, higher yields, and the dollar rising typically spells trouble for equities.
I mentioned in the Live Trading Room yesterday that if the S&P 500 breaks 4,400 we can see 4,370. An overbought market can stay overbought, and an oversold market can stay oversold.
This has been a slow bleed lower. It’s not an easy market to trade, so I tell people to back away or trade very small.
Everyone’s a hero when the market goes up!
They’re starting to hit a lot of names.
by David
From the Desk of Kimmy Sokoloff
This is a tough market.
We’ll see if they hold 439 on $SPY.
by David
From the Desk of Kimmy Sokoloff
The indices have been heading lower for two weeks now.
Will we have a dead-cat bounce or continue lower? That’s the question.
If they want, they can send the indices down another 5%.
by David
From the Desk of Kimmy Sokoloff
August and September are not for the faint of heart.
After the release of the July FOMC minutes today the market headed straight down. I guess it wasn’t happy about the potential for more rate hikes.
The indices have had a decent pull-in since the beginning of August. We just have to be aware of a dead-cat bounce.
by David
From the Desk of Kimmy Sokoloff
$SPY finally closed its gap down to 442.97.
There are lots of gaps below, but I was looking for this nearby gap to get filled.
Today we have the minutes from the July FOMC meeting.
by David
From the Desk of Kimmy Sokoloff
The market pretty much drifted lower all day.
It erased yesterday’s bounce, and $SPY closed to its respective gap below.