SPY rocked up in late afternoon rally and closed higher 1.1% yesterday.
Higher Corona cases and high jobless claims dipped SPY to a loss of 0.9% in the early going.
FED came riding in to rescue with some modification of Volker rule for financials. Enough news for bulls to buy dip again.
The Squeeze momentum indicator remains divergent but SPY remain above support zone.
So bulls still have the ball as the market consolidates in a sideways chop.
ES futures are trading down -3.5 handles as of now suggesting SPY opens neutral for RTH trade.
Higher Corona cases and high jobless claims dipped SPY to a loss of 0.9% in the early going.
FED came riding in to rescue with some modification of Volker rule for financials. Enough news for bulls to buy dip again.
The Squeeze momentum indicator remains divergent but SPY remain above support zone.
So bulls still have the ball as the market consolidates in a sideways chop.
ES futures are trading down -3.5 handles as of now suggesting SPY opens neutral for RTH trade.
Note
Having a steep sell-off with SPY about to lose 300 level. Bulls be careful.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.