From the Desk of Kimmy Sokoloff
That was a nice reversal Friday after the early morning drop.
We still need to get back above 400 on $SPY.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
That was a nice reversal Friday after the early morning drop.
We still need to get back above 400 on $SPY.
by David
From the Desk of Kimmy Sokoloff
I like to say this market is not for the faint of heart.
This morning we’re trading below the 200-day moving average on $SPY.
Unless we recover 392.44 we can head back down to 385.
by David
From the Desk of Kimmy Sokoloff
This market can’t get its act together.
It started off strong, then it faltered.
by David
From the Desk of Kimmy Sokoloff
We saw a swift reversal down in the indices yesterday after the Fed’s rate-hike announcement.
Now we need to see if we stabilize in here to trend back up or break down.
by David
From the Desk of Kimmy Sokoloff
It was a sleepy morning for the market…
And, of course, that changed as the day went on.
by David
From the Desk of Kimmy Sokoloff
It’s a big day today.
Will the Fed raise by 50 basis points or 25 basis points? Or will it do nothing? I’m thinking 25 basis points.
However it turns out, expect volatility.
by David
From the Desk of Kimmy Sokoloff
It was a nice day in the market overall.
We gapped up but didn’t pull back into yesterday’s high on the indices.
by David
From the Desk of Kimmy Sokoloff
The market is gapping up nicely into the next resistance zone.
For $SPY, we have to watch this 396.50 area. If it can clear this level, there’s room to 400.
Otherwise it’s back down to 393 or so.