From the Desk of Kimmy Sokoloff
The market is jittery this morning as we await more economic data, more importantly inflation data.
In January, Fridays were very strong. In February, Fridays have overall traded higher but very lackluster.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
The market is jittery this morning as we await more economic data, more importantly inflation data.
In January, Fridays were very strong. In February, Fridays have overall traded higher but very lackluster.
by David
From the Desk of Kimmy Sokoloff
This morning the market popped.
Then it faded most of the day until about 1:00 p.m. ET, when the rally started, right off of support.
$SPY dipped below 396.76, and then it bounced from there.
by David
From the Desk of Kimmy Sokoloff
As I write this note, the only reason the market is up is because of $NVDA’s earnings.
We have GDP today, and that might change the tune. Hopefully, we continue to hold $SPY 400.
by David
From the Desk of Kimmy Sokoloff
$SPY struggled all day to stay above the 400 level.
Now we have support at 396.76. If we break that, we can see 393.20.
by David
From the Desk of Kimmy Sokoloff
We’ve got FOMC minutes coming today, so let’s be on our toes.
We still run the risk that the $SPX can head down to 3,950.
[Read more…]
by David
From the Desk of Kimmy Sokoloff
The $SPX was down more than 1.5% today, but it was a slow and steady grind lower.
I didn’t trade much today, as I want to wait for the right setup.
by David
From the Desk of Kimmy Sokoloff
We’re seeing a decent gap down into the $SPX 4,050 zone. If we break this, we can see 4,020.
We have support on $SPY at 402.65.
by David
From the Desk of Kimmy Sokoloff
That was some sloppy action today, and the market is showing weakness.
Let’s see if we level out next week.
Support on $SPY is 405, then 402.35. Resistance is at 408.