SPY 200MA retest incoming.. Still.
Hello Traders,
We've seen a pretty bullish start to the week. AAPL is what, 8pts from it's ATH's.. Pretty impressive numbers in that ER, but with the volatility we're seeing it's still a little surprising.
I'm not going to say we're entirely out of the woods yet, but what I will say... The doom and gloom that blasted the frontpage everywhere was quite a bit overplayed. Geopolitics is still a non-starter (with the exception of barrel prices.. no one cares right now), and rising rates are a mixed bag, they will push inflation downward and the banks/high cash balance sheet companies (think AAPL/GOOG/BRK.A/BRK.B), will be essentially unaffected or given a competitive edge against startups/small-cap growth.
I think we will see more volatility as the year progresses, however, I don't think it will be exceptionally different than other midterm years.
We may hang around the 200MA a little longer than a Bull or a Bear would hope, but we'll definitely see pops in both directions.
Again, retest of the SPY 200MA is imminent.. Still!
Could even hit the gap-up and later retest it as support.
Good luck traders.
Cheers,
Mike
(UPRIGHT Trading)
We've seen a pretty bullish start to the week. AAPL is what, 8pts from it's ATH's.. Pretty impressive numbers in that ER, but with the volatility we're seeing it's still a little surprising.
I'm not going to say we're entirely out of the woods yet, but what I will say... The doom and gloom that blasted the frontpage everywhere was quite a bit overplayed. Geopolitics is still a non-starter (with the exception of barrel prices.. no one cares right now), and rising rates are a mixed bag, they will push inflation downward and the banks/high cash balance sheet companies (think AAPL/GOOG/BRK.A/BRK.B), will be essentially unaffected or given a competitive edge against startups/small-cap growth.
I think we will see more volatility as the year progresses, however, I don't think it will be exceptionally different than other midterm years.
We may hang around the 200MA a little longer than a Bull or a Bear would hope, but we'll definitely see pops in both directions.
Again, retest of the SPY 200MA is imminent.. Still!
Could even hit the gap-up and later retest it as support.
Good luck traders.
Cheers,
Mike
(UPRIGHT Trading)
Site: uprighttrades.com
old site: uprighttrader.com
Scripts: tradingview.com/u/UPRIGHTTrading/
Like & follow for great ideas & indicators!
old site: uprighttrader.com
Scripts: tradingview.com/u/UPRIGHTTrading/
Like & follow for great ideas & indicators!
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