Blog

SPY opened up $2.04 today on the belief that Trump’s chances of being elected President increased after the failed assassination attempt. Trader’s believe Trump will be favorable for the stock market, even as many pundits believe Trump’s policies will be inflationary. The market...

SPY opened up $1.15 today after a hotter than expected PPI reading showing inflation at the wholesale level accelerated to its highest rate since March 2023. That is bad news for rate cuts one day after the government announced the rate of consumer price inflation declined. The PPI is the Feds...

SPY opened up $.12 today after a favorable CPI reading that came in softer than expected pushed the market to a new all-time high at $562.33. But by the open, prices had begun to fall, and while there was an initial attempt to reclaim the highs @ 10 am, the market decided this bull run needed a...

SPY gapped up $1.25 today and spent much of the morning trading in a tight $1 range until Powell stated the decision to reduce interest rates did not require inflation to fall to 2%, and that the labor market had weakened substantially which may require the Federal Reserve to cut interest rates...

SPY opened up $.98 today and once again traded all day in a very narrow, tight range reaching a high of $557.18 and a low of $555.52. SPY ended the day down 10 basis points at $555.82 after making yet another new, intraday all-time high. The market continues to digest the gains from last week,...

SPY opened up $.80 today and traded all day in a very narrow, tight range from a high of $556.25 to a low of $554.19. SPY closed down 12 basis points at $555.28 after making another new all-time high. The market is clearly tired and needs to digest the massive move from last week to build energy...

There was no post market recap for Wednesday as it was a half day. SPY on Friday opened up $.31 after moving higher by @ $2.50 during the limited session on Wednesday. The market continues to rip straight up on relatively low, holiday week volume. Today SPY tested $553 shortly after the open,...

SPY gaped down $1.64 but quickly found support at the low of the day at $543.65, closing the gap by 9:40 am ET. Prices chopped around until 10 am when the market decided Powell’s optimism about inflation coming down would eventually lead to cuts in interest rates. The market turned...

SPY opened up $1.41 after finding support again late Friday at $543 like it has all last week. The market didn’t move higher however, and instead once ISM PMI was released at 10 am ET, sold off to the $543 level, where it once again found support. After three attempts to break this level,...

SPY gapped up $.79 as PCE was in line with forecasts. The market took the news as a sign that inflation is falling and would provide a green light to the Fed to lower rates. The market pushed higher quickly and by 10:12 am ET had made a new all-time high at $550.28 by $.16. $550 is a big round...

SPY opened down slightly but traded higher out of the gate to overhead resistance at $547. SPY bounced around in a range from $545 to $547 until 10:40 am ET when it decided to retest lower levels of support, falling as low as $544.61 a couple of times before closing the day at $546.42, up 17...

SPY opened down slightly and traded lower, finding support at $543.17 shortly after the open. SPY then bounced off support reaching $544.80 before reversing course once again and retesting the lows. There again the market found support and traded higher to $545.45 where it found resistance again...