The SPY is over all the short term moving averages here but has not been able to break from this series of lower highs. Bulls really need to see this push up and sustain here shortly and not fail pushing back below the 21 ema. Rates are still stronger than we’d like to see with the 10 year hitting new highs today. Oil is up, the vix is up, this is standard weakness when that goes on but overall as long as we’re trending over all the moving averages things are fine. We’re at 769 right now and the June 2nd highs were over 760, so we’re really just still in that range we’ve been in for nearly 4 months.
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Here are today’s large cap momentum scans from the database. The rest of the small and madcap scans can be found in the database link below.
My Open Book
Trades I Made Today
