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March 21 S&P 500 Update – SPY’s Bullish Reaction to FOMC
The markets had a bullish rebound to yesterday’s FOMC meeting. $SPY had two back to back bullish daily candles, and more importantly has broken out of the range with a breakout above the $517 range. SPY is continuing to show strength today with a bullish gap higher. I think there will be a pullback soon, […]Read More
INTC is Trading Within a Tight Range
$INTC has been trading under resistance at the light blue trendline, but is starting to also find some support at the red trendline. I think INTC is trading within a tight range here and will need to find a direction over the next few weeks. For now there’s likely to be some sideways price action. […]Read More
March 20 NASDAQ Update – QQQ is Bearish Below Resistance
The NASDAQ also had a bullish rebound yesterday, but is still trading below the yellow trendline. The NASDAQ has been pretty bearish lately with 9 red daily candles out of the past 12 days. However, the price continues to trade below the yellow trendline so today’s FOMC announcement will be important to determine whether QQQ […]Read More