- SPY key supports to watch today are 349.93 (which is the 50 period MA on the hourly), 344.58 (the second gap to fill from the Nov 4th close), and 339.62 (the 50 day MA).
- The daily is sitting at 64.78 which is showing we're getting close to those overbought levels. We just about hit an of 80 on the hourly on Monday (79.97).
- Vix is back to a 24 handle after some weakness yesterday, and saw it's lowest hourly print in two and a half years this week. Needless to say, risk protection is currently heavily oversold on the hourly.
- DXY is sitting around 93 at the moment, and is just begging for a shift in sentiment before it's epic return as King Dollar.
Best of luck out there today guys! If you enjoyed today's analysis, please hit the Like button and subscribe to our profile. The information and analysis shared in this post is not financial advice. Always conduct your own analysis and research.
PS No live updates today unfortunately, I'm in the middle of moving so I have a lot on my plate, unfortunately. Cheers, Michael.