$SPDR S&P 500 ETF Trust(SPY)$wall street journal does it again! Spx futures was red from pre market hours right up to about 9pm when WSJ reported the Feb may 'pivot' , 75 pt cut is firm for Nov, but Dec might soften to 50 pt due to concerns of over doing and causing severe economic conditions.
Market starts to move up towards the opening bell, turned green before open. Spy went higher and turn down ard 10.30.
Buyers started coming in At 11.
prior days ago , I had a spy call which I promptly close out with a small gain when it hit 367 Fearing a reverse and this option burn.
Re enter when market turn up and holding till close to wait for Monday , hoping for a gapup.
On charts, another engulfing candle. Anotherbullish sign near term.
The plan is take profit during Monday at anypoint if there are downward pressure.
Have to admit WSJ saves the day (or was it a coincidence that matches technicals on the chart?) this is always a debate.
Hoping the china and HK market provides some good economic news to push market higher .
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments