The SPY turned back up after a strong GDP print this morning into quarter end. We reclaimed the 21 ema today after a close below there yesterday. This market continues to be a constant narrative change on a daily basis and until we get out of this range, either over 779.37 or below 750, this is just going to be alot of choppiness. It’s nice to see yields flat for once they were on a torrid pace the last few sessions but the vix is under 16 and oil is at 91 things are otherwise calm at the moment. We have a big report after the bell today with Micron reporting so we’ll have to see what aftershocks that will leave across the entire ai spectrum.
Speaking of end of quarter, look at this quarterly chart of the SPY below. You can see for the last decade we’ve traded around the 8 quarter average often, we are 10% away from it right now. I would say as flat as we’ve been, we really need to consolidate here and let these moving averages catch up.
Scanner
Nothing really notable coming up in today’s large cap momentum scans. The rest of the small and mid cap scans can be found in the database link below.
My Open Book
Trades I Made Today
