The SPY is working on its 6th straight red candle and its potentially its 8th in 9 sessions. We are in a period of weakness right now and technically we’re in no man’s land sitting here between the 8 and 21 ema but I’m certain we will have more clarity next week after the NVDA report. That name is going to spillover to everything else so if Jensen can get people excited to be in semis again this market can make new highs heading into the big fed meeting at Jackson Hole next week.
Scanner
Here are today’s large cap momentum scans and the rest of the mid and small cap scans can be found in the database link below. What you’ll notice today is a ton of metal names are here. Copper is breaking out today so FCX makes sense but AU,FNV,NEM,WPM are all metals and that is where the momentum is right now.
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Trades I Made Today
