Today $SPY filled its gap from the Nov. 10 CPI print.
We’re currently below the major moving averages.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
Today $SPY filled its gap from the Nov. 10 CPI print.
We’re currently below the major moving averages.
by David
From the Desk of Kimmy Sokoloff
Another gap lower for the indices this morning. I’ll be watching to see if the $SPX can hold 3,861 or so.
I was looking for a gap down. Now we’ll see if we can get a bounce.
by David
From the Desk of Kimmy Sokoloff
The market opened lower and continued on that path all day.
It was a tough day, and I tried to manage risk.
The $SPX hit some support at 3,887. The next level down is 3,867.
by David
From the Desk of Kimmy Sokoloff
The market is continuing yesterday’s slide after Fed Chair Powell’s speech.
For today, I’m watching the 21-day moving average on $SPY at 396.40. We’re slightly below it.
by David
From the Desk of Kimmy Sokoloff
We saw a lot of volatility after the FOMC meeting today.
We dropped below $SPX 4,000 before quickly bouncing back.
by David
From the Desk of Kimmy Sokoloff
We have the FOMC decision and Fed Chair Powell up at bat today.
I guess the market will be judging Powell’s overall tone to see if and when the Fed will start to pivot.
by David
From the Desk of Kimmy Sokoloff
November CPI came in better than expected, and the market was up over 2% at the open then drifted lower all morning.
The $SPY was up at 410 and dropped down to 399, roughly.
There was a lot of profit-taking, and a lot of good short ideas were out there to be had.
by David
From the Desk of Kimmy Sokoloff
Futures are up big this morning. Now we’ll see what the November CPI data brings this morning at 8:30 a.m. ET.
The $SPX futures are trading roughly at their 200-day moving average at 4,050.