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Market Bias & Favorite Ideas - 9/29/2022Market Bias: Chop. Favorite Ideas: Long - FCX, AA, PLTR, CENX. Short - KMX, RAD, STLA, STM, AMPS The SPY looks like it may just chop around and have an inside day. There is a lot of support below and lots of selling pressure above. It is tough to say which direction this will go but if I had to lean to one side it would be bullish. This market still has not corrected from the recent move lower so it should continue to that via price (bullish) or time (chop).
AMEX:SPY
by JLaing
Market Bias & Favorite Ideas - 9/28/22Market Bias: Bull chop Favorite Ideas: Long - LLY, SAVA, NFLX, JNJ. Short - AAPL, SAND, MT, QCOM, TSM The SPY is at resistance near the 360 area which has held the past three days as well as back in mid June. I think it is more likely that we get a bounce before breaking down lower. The bounce will not be smooth however as 370 has been sold into heavily for the past two days. The SPY looks higher in the pre market. Be careful off the open and let the market show you its hand. Remember, Money Management is your #1 job!
AMEX:SPY
by JLaing