Based on my typical Moxie Indicator™ price patterns, I would expect the SPDR S&P 500 ETF Trust (SPY) to head to its daily 50-day simple moving average (SMA). After that, we need to assess whether the market is bullish or bearish.
The bullish case could be that the slowing of interest rate hikes news kicks in later instead of when Federal Reserve Chairman Jerome Powell broke the news in his last speech. The bearish case would just be more of the same action we have been seeing.
Keep you head on a swivel to assess what the market is doing:
More volatility is ahead as the stock market ebbs and flows with each economic report that influences price action. How do you trade this market through the end of the year? Members of my Moxie Indicator™ Mastery Program learn how to combine fast-moving signals and track movement as the market flips and flops in the volatility. Join us as we track the profit opportunities!
Your Profit Pilot, TG
