Blog
A wild ride for the markets today with chip stocks leading the tech fueled sell off. After initially opening close to $1.75 higher, SPY hit a wall right at $555, the line in the sand we mentioned yesterday and several times in prior posts, and fell like a stone all the way back down to another...
Another exciting day for the markets with lots to unpack. SPY gapped up close to $7 overnight, pausing at $547.50 until multiple economic reports released in the premarket added to the day’s excitement. By the open SPY was trading over $549 on its’ way to $553.50, the high of the day....
We had a minor technical issue yesterday with a software update and were unable to provide a post market report Monday evening. But our model is back online and we will do our best to recap both days in tonight’s report. Monday the market did not do much, finding resistance just above...
A solidly green day for SPY with the market moving higher overnight, gapping up over $4 at the open and continuing to rise to overhead resistance at $547.17. An inline Core PCE report at 8:30 am ET contributed to about half of today’s gains. After reaching the high of the day, SPY retraced...
Another red day for SPY, which perhaps felt worse than the numbers display. SPY opened up slightly, fell out of the gate to $537.64 before violently reversing, rallying all the way to the high of the day by 1 pm ET to $547.46. But as markets like to do, the squeeze was short lived and immediately...
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...
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...
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...
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...
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...
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...
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...
