Good morning for Thursday, July 28th. This is your morning. Spy. Analysis, This morning, we’re seeing spy in a spike yesterday after the FOMC announcement. In the press conference at 2:30 yesterday market reacted, pretty fairly well to that. And so Spy actually closed above 400, which closing above 400 was very key there, which it did not do the last time it met 400.
So This is looking very bullish. The problem with the chart that I can see is that the chart is pretty extended yesterday’s, large green candle looks great, but all the moving averages are far below it. And so, price needs to either move sideways a little bit before going higher or do something else.
But either way yesterday, was a good close but tonight’s earnings on Apple. And Amazon are really going to make a big breaker maker break for the market and see how Tonight’s earnings on Apple and Amazon are really going to be a make or break for the market, and we’ll see how the market reacts to that.
So, As you recall a few times in the past, whenever the market, reacted one way to FOMC on the day of the announcement afterwards. The market reacted completely different, So good for now. Good. Oh, that price is over 400. That’s really important, but we need to see how earnings shake out the rest of this week and how the market reacts to that For today.
This morning. We have GDP and jobless claims at a 30, then an 11. We have the KC Fed manufacturing Index at 4:30. We have the Fed balance sheet report, so that’s pretty much it for today guys. If you would like full analysis, every single day with
So that’s it for today, If you like full analysis live during the day with updates and alerts on spy, you can get a weak trial of our service, over at spyoptionsTraders.com/podcast members can actually use the promo code podcast to get the first month for free.