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SPY opened up $1.25 and initially traded lower, finding support at $543.03 by 9:58 am ET, where it reversed course and headed higher, reaching $544.48 where it traded sideways before retesting the lows from yesterday at $542.44 @ 1 pm ET. Finding support once again at the lows, SPY then reversed...
SPY opened down $.18 trading lower and finding support at $543.71 by 9:45 am ET, when it reversed hard, rallying to the high of the day of $546.95. SPY then traded back down to $544.66 before bouncing once again back to $546. SPY chopped around for a few hours until the market finally picked a...
SPY opened down $2.60 and continued to trade lower, finding support at $543 to close the day down .46% at $544.51, hovering near major support at $545. Profit taking continued in heavies like NVDA, which pushed the market lower. Friday was monthly options expiration and well as Futures expiry so...
SPY opened just shy of $1 and reached a new high after the open of $550.12, after which the market sold off to major support at $545.18 before recovering to close the day at $547, down 27 basis points. The Nasdaq fared a bit worse losing .79%, with the Dow gaining .77%, and the Russell losing...
SPY opened up slightly and spent the entire day chopping around in a very tight range between $546.73 and $548.62. SPY closed up slightly heading into the holiday tomorrow at $548.49, up .25% while the Nasdaq closed up .03%, with the Dow gaining .15%, and the Russell following suit, up .19%....
SPY opened down $.50 as our model suggested today would be a boring, range bound day without much movement either way. But as the markets do from time to time, they surprised our model and we saw all the major markets ripping higher with the S&P and Nasdaq making more new all-time highs. SPY...
SPY opened down @ $1.50 as the market entered consolidation mode, digesting the gains from this week. UoM Consumer Sentiment came in a bit weaker than expected as rising costs and less job prospects dampened consumer enthusiasm. But today was much more about typical market behavior with prices...
SPY gapped up @ $1.50 on a much lower than expected PPI reading at 8:30 am ET, as well as a higher-than-expected Unemployment Claims number. Combined they support the narrative of easing inflation, weakening jobs and therefore, the ability for the Fed to reduce interest rates. The Fed likely...
SPY gapped up shy of $5 on a much lower than expected CPI reading. At .2%, this is the lowest reading recorded for inflation since November of 2023. While one month doesn’t a trend make, we now have two months of lower readings and perhaps, high interest rates are finally taking a bite out...
SPY opened down $.59 on overnight weakness and profit taking. Like yesterday, in the first hour the market fell until it found support once again at $532.50 where it reversed course hard and rallied, reaching a new all-time high of $537.01 before closing at $536.95. There is no doubt that the...
SPY opened down $.83 on overnight weakness and profit taking. In the first hour the market fell a bit further until it found support once again at $532.50 where it reversed course and rallied to close the day at $535.66, trading inside of Friday’s range and up 31 basis points. A couple of...
SPY opened down $1 on stronger than expected Non-Farm Employment data which not only showed close to 100,000 more jobs added than forecast, but also rising wages. While the Unemployment rate ticked up to 4%, it is still quite low by historic standards. The Federal Reserve wants the job market to...
