Yesterday was a one-hit wonder for longs. Today was pretty ugly.
The market is showing who’s in charge.
The $SPX broke through support levels at 3,850 and 3,800. Next support is at 3,744.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
Yesterday was a one-hit wonder for longs. Today was pretty ugly.
The market is showing who’s in charge.
The $SPX broke through support levels at 3,850 and 3,800. Next support is at 3,744.
by David
From the Desk of Kimmy Sokoloff
Futures down some after yesterday’s nice move to the upside.
It could be a consolidation day, but I would like $SPX 3,850 held today.
by David
From the Desk of Kimmy Sokoloff
In today’s Morning Briefing, I wrote about $SPY and $TQQQ trade ideas.
Both targets were reached. SPY ran right into resistance at 387 and then pulled back, as was alerted.
by David
From the Desk of Kimmy Sokoloff
As I write this note, the futures are gapping higher.
The cash index could open roughly at $SPX 3,850 — that is, as long as we stay higher.
by David
From the Desk of Kimmy Sokoloff
We saw a decent snapback in the market early today then a late-morning fade.
This $SPX 3,800 level is support for now.
by David
From the Desk of Kimmy Sokoloff
The futures were wild last night after the Bank of Japan intervention and then steadily crawled their way back.
I’m watching 378 on $SPY. Should we break below that level, we could see 375.
by David
From the Desk of Kimmy Sokoloff
We filled the gap down on the $SPX at 3,818 and the market continued lower.
$QQQ closed its respective gap as well.
by David
From the Desk of Kimmy Sokoloff
Let’s see what this week brings.
If the $SPX can hold on to 3,800 roughly, there’s potential for a back-test up to 3,940 or so.
If not, then we head down to 3,744.