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A huge red day for SPY with price dropping overnight close to $5 and continuing to fall until thirty minutes before the close, reaching a low of $540.29 before closing at $541.23, down 2.27%. A relentless red day and the worst since 2022 with the first 2% drop in 356 trading days. This streak was th...
A sideways day for SPY with price spending most of the day bouncing between support at $554.50 and resistance at $556. In the last hour the market fell off a bit to close the day down 16 basis points at $553.78. SPY rallied off support to $556.74 after the open where it stalled and eventually worked...
A big reversal day for SPY, or is it? SPY gapped at the open over $4, rallying strongly overnight as Biden stepped out of the race for President. One would think Trump is better for the markets and perhaps that view is what is pushing the market up today. But it could also be the rotation out of Tec...
Another bloody day for the markets with all major indices falling. SPY opened down $.42 and initially attempted to rally at the open, but once again failed and fell until 1 pm ET after which it traded sideways in a range between $548 and $550. This is the first red week for SPY since June 24th and t...
Another rough day for the markets with all major indices taking it on the chin. SPY initially gapped up at the open $1.57 and looked like today may provide a relief rally to yesterday’s decline. But like the market likes to do, today was trap filled both ways, and the slide continued after the initi...
SPY gapped down today in a big way, dropping $6.06 as the rotation out of technology picked up its’ pace. The Nasdaq had its’ worst day in close to two years while the DOW closed at a new all-time high. While Trump is expected to be elected President, some of his rhetoric about Taiwan and NATO contr...
SPY opened up $1.34 today on the continued belief that Trump will be elected President, stronger than expected retail sales and better than expected earnings from several banks. The market initially fell after the open after finding resistance at $563.50, but quickly found support at @ $562 and move...
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 continued to push hi...
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 favor...
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 brea...
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 soon...
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, build...
