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SPY opened up $.42 after treading water overnight at the $555 resistance level. A brief pullback after the open to $553.86 and the low was in for the day. SPY then resumed where it left off on Friday and pushed virtually straight up to close up .96% at $559.61 for its eighth straight day of...
SPY opened down @ $1.75 after rallying overnight to $554.23 where SPY mean reverted to major support at $550. At the open SPY resumed its trek higher, pausing briefly at $553.50, only to continue higher reaching $555.02 by 1 pm ET. Once at this level, SPY traded sideways for the rest of the day,...
SPY gapped up at the open a whopping $5.75 driven higher by a Retail Sales number which was much stronger than forecast indicating a very strong consumer who is still spending. Unemployment Claims too came in lower than expected and combining these reports with the other economic news this week,...
SPY opened up over $1.80 once again driven higher by a CPI print that showed inflation below 3% for the first time since April 2021. Lower inflation and weaker PPI cements the rate cuts starting in September, which market participants believe supports higher stock prices. After an initial...
SPY gapped up over $3 and after a brief pause at $538 and a slight pullback, pushed through major resistance, once again pausing at $540, before closing near the highs of the day at $541.98, up 1.64% on the day. Lower than forecast PPI gave market participants confidence the Fed would move to...
SPY opened $1.22 higher and quickly tested support at $530 before reversing course to reach the high of the day at $535.73. SPY then continued this back-and-forth choppy price action moving in a very tight range from $532 to $535 for the rest of the day, eventually closing down 5 basis points at...
SPY opened $0.84 lower, testing support at $528 before gradually climbing to reach the day's high of $534.51. After a week of extreme volatility in both directions, the market took a breather today, with SPY trading in a relatively narrow $5 range, bouncing between $529 and $534. SPY ultimately...
The market initially fell overnight, getting close to testing Monday’s lows before finding comfort with the 8:30 am ET Weekly Jobless Claim data, which came in much lower than forecast. This eased fears of an impending recession and market participants pushed prices up in the premarket with...
The market rallied overnight on news the BOJ would not raise rates as long as markets remain under pressure. This came as a huge relief which saw the Nikkei reverse all of the losses incurred since last Friday. SPY opened up over $2 on the news and drifted higher, reaching $531.59 before market...
Today the market sighed a bit of relief as SPY opened up over $2, after getting hammered yesterday on fears of a recession, the unwinding of the Yen carry trade and global risks in the Middle East. The markets were calmed by dovish comments by Fed speakers and a rally overnight in Japan, which...
A massive gap for SPY today, opening down over $21, getting absolutely crushed overnight on fears of a recession, the Yen carry trade unwinding and geopolitical risks facing the Middle East. While we still have a couple more weeks of earnings releases, most of the heavies that have supported the...
A massive gap for SPY today, opening down $6.24, falling overnight and with the 8:30 am ET Jobs Report which came in much lower than expected. The unemployment rate rose to $4.3%, the highest since October 2021. This bad economic news stoked fears of a broader economic slowdown which could lead...
