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Market Overview
U.S. stocks bounced back on Monday after the S&P 500 had its worst week since early 2023, with inflation once again in the spotlight as investors considered factors that might impact upcoming interest rate cuts. SPY opened up over $4 after falling overnight to major support at $538....
Market Overview
U.S. stocks ended deep in the red on Friday, wrapping up a wild trading week, dropping 4% this week as investors processed a key jobs report that hinted at the likely size of this month’s expected interest rate cut. SPY opened up $0.33 and rallied to the high of the day at $551.60, ...
Today SPY opened down slightly at major support and rallied in the morning session to $553.80 where it once again couldn’t attract buyers to continue higher. By the 10:30 am ET hour, price started to collapse and SPY fell virtually straight down to the lows of the day at $547.10. At noon, buyers fin...
SPY gapped down over $1.85 today, retesting the lows from Tuesday. The market tread water until the JOLTS Job Openings report was released at 10 am ET. The report came in weaker than forecast and SPY initially sold off on the news, then rallied reaching the high of the day of $554.43 where it found ...
SPY gapped down over $3 today after reaching a high in the premarket of $564.22, just shy of the all-time high of $565.16. But the real party started once ISM Manufacturing PMI was released at 10 am ET. While the topline number was slightly below forecast, the drop in new orders, down 2.8 reached th...
SPY gapped up over $2 again and once again in the morning session, worked its way toward the all-time high without getting above $562.25. SPY then sold off to $557.14 where it reversed, and after chopping around for two hours, SPY made a late afternoon push to close near the highs of the day at $563...
SPY opened up over $2 after moving lower overnight, finding support at $553.50 and reversing to open higher on the day. The market continued to rally as GDP came in better than forecast and Unemployment Claims were slightly below forecast. All good news for the economy so SPY once again attempted to...
SPY opened down @ $.25 seemingly starting the day as forecast, looking for nothing but chop and range trading. But this quickly changed at the 10 am ET hour as the market sold off with SPY reaching a low of $555.04 before finding meaningful support. Was it the raid Isreal launched on the West Bank, ...
SPY opened down over $1 as an early morning sell-off put the markets under pressure. But this set up a nice long opportunity @ 10 am and SPY moved higher reaching a high of $562.06 before ending the day up .14% at $561.56. The Nasdaq rallied similarly, rising .17% with the DOW gaining .02% and IWM l...
SPY opened up over $1 and again was within striking distance of the all-time highs, having drifted higher overnight. Another brief rally at the open to today’s highs at $563.91 and like Friday, the market decided that was enough and fell, reaching the low of the day at $559.05. SPY bounced off this ...
SPY opened up over $3.25, once again within striking distance of the all-time highs, having drifted higher overnight. After a brief rally after Powell’s speech to today’s highs at $563.09, the market stumbled a bit and fell to support just above $557 before deciding Powell’s dovish comments were goo...
SPY opened up just shy of $2, within striking distance of the all-time highs. But the market quickly found today’s high of $563.18 too difficult to move beyond and the market began falling at 10 am ET, continuing all day reaching a low of $554.98, closing at $556.22, down .78%. Perhaps it was a buy ...
