Great week for SPY. We had fed, earnings, nearly 80% of S&P reporting already, and quite the rally from 411. We seem to be taking out the volume nodes outside of our value zone on the VRVP. I'm looking at SPY bouncing around in some choppy weather as it looks for direction after earnings.
With some earnings analysts/companies revising upwards on earnings for Q4, as well as massive stock buy backs, and the issuance of new Treasury Bills (Debt) near 1 trillion dollars as well, we've found our fuel for this rally.
The fed meeting was predictable, as always JP remains data dependent. No hikes, watching labor, consumer spending etc. There is a somewhat concerning report about consumers now even spending less on food...That is scary in my opinion.
We have some pretty decent gaps that occurred this week. We had some great volume, but that always leaves room for sharp pull backs as stop losses get trigged and others begin to take profits etc.
*Not financial advice. Just my quick look at charts and ingestion of market media over the week.*
P.S. I don't think we can forget about the 2 wars now going on. Anything effecting oil will affect many parts of the market.
With some earnings analysts/companies revising upwards on earnings for Q4, as well as massive stock buy backs, and the issuance of new Treasury Bills (Debt) near 1 trillion dollars as well, we've found our fuel for this rally.
The fed meeting was predictable, as always JP remains data dependent. No hikes, watching labor, consumer spending etc. There is a somewhat concerning report about consumers now even spending less on food...That is scary in my opinion.
We have some pretty decent gaps that occurred this week. We had some great volume, but that always leaves room for sharp pull backs as stop losses get trigged and others begin to take profits etc.
*Not financial advice. Just my quick look at charts and ingestion of market media over the week.*
P.S. I don't think we can forget about the 2 wars now going on. Anything effecting oil will affect many parts of the market.