SPY long
Updated
S&P 500 has been falling for the past 2 days dragging the foreign market along with it. The state of the union speech is overall positive and vow for more deregulation over all and boosting the economy with 1 trillion dollar in infrastructure
In the analysis, the chart RSI level has been lower by a huge margin and hit similar level as it is in the past. The oversold range should trigger the market to perform technical rebound along with AMD's promising earnings & guidance for the upcoming quarter.
My stock pick if infrastructure goes through would CAT and other metal/steel. The other thing to look at might be military contractor like LMT.
First time publishing these idea, hopefully it helps and leave a comment for improvement.
In the analysis, the chart RSI level has been lower by a huge margin and hit similar level as it is in the past. The oversold range should trigger the market to perform technical rebound along with AMD's promising earnings & guidance for the upcoming quarter.
My stock pick if infrastructure goes through would CAT and other metal/steel. The other thing to look at might be military contractor like LMT.
First time publishing these idea, hopefully it helps and leave a comment for improvement.
Note
Asia market did pretty well overall, especially with the hang seng index closing near + 1 %. The U.S future market is positive but not by too big of a margin, so I think tomorrow's bounce will be minor during open market.
CHKP is reporting BMO, most likley to beat the earnings estimate. Tomorrow's internet giant like FB, MSFT report and that will move the market substantially.
Good luck trading :)
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