Weekly SPY Analysis RSS



Weekly Market Update & SPY Technical Analysis

Weekly Stock Market Update & SPY Technical Analysis  Markets ended sharply lower last week after one of Wall Street’s most prominent CEOs warned of a possible slowdown in the U.S. economy, pointing specifically to rising geopolitical tensions and inflation as being the reason. Jamie Dimon, the CEO of JP Morgan, spoke on Friday after the financial institution reported its quarterly earnings and sent fears across markets with his unsettling comments. His comments came during the same week of CPI, which showed a month over month uptick in inflation from 3.2% to 3.5% largely because of rising energy prices. Energy has been on a rampage as demand heats up to fuel multiple wars around the globe and as OPEC+ leaders change...

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Weekly Market Update & SPY Technical Analysis

Weekly Market Update & SPY Technical Analysis Markets saw their strongest sell-off day in months last week after Fed’s Kashkari floated the idea of leaving interest rates unchanged this year. His comments about the lingering inflation and more necessary economic development have all been heard before, but his reference to not cutting interest rates in 2024 was a shocker to the market. The market rally that started in October of last year has been built on the anticipation of multiple interest rate cuts this year. This first cut, which was supposed to be in March, still hasn’t come, and odds of a rate cut in the June FOMC meeting have declined to about 50% thanks to sticky inflation. This makes...

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Weekly Market Update & SPY Technical Analysis

Weekly Market Update & SPY Technical Analysis Its a new month of markets, but nerves are high coming into the first week after Friday’s inflation data showed an uptick in month over month inflation. The Personal Consumption Expenditures Price Index (PCE) moved from 2.4% to 2.5% between January and February, a small change, but in the wrong direction. Markets have been riding the high of an interest rate cut at some point this year, but The Fed have been clear about needing to see inflation at or below 2% before loosening their policy. 2.5% is still a better number than the 9%+ we saw about a year ago, but the next few inflation reports must not continue the uptrend.  Coming...

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SPY Technical Analysis & Weekly Market Update

Weekly Market Update The S&P reached a new high once again last week after the second FOMC meeting of the year came to an end. As expected, The Federal Reserves left interest rates unchanged and didn’t have any “surprises” in their remarks. The Fed stated that they still need to see more economic data that points to cooling inflation before they cut rates, if they cut rates too quickly, inflation may get out of control again. This week’s PCE Index will update markets on inflation, which will be the biggest catalyst to watch for; however the report is set to be released on Friday, which is a market holiday in observance of Good Friday. The PCE Index is The Fed’s...

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SPY Technical Analysis & Weekly Stock Market Update

SPY Chart done on hourly timeframe. Nerves are high going into this week as markets second FOMC of the year. The highly anticipated meeting will update investors on where The Fed stand on fiscal and monetary policy, but the main focus will be on interest rates. Probabilities of a March rate cut at the start of 2024 were around 80%, but now that number has fallen to below 10%. Members of The Federal Reserve have made it clear that they want to see inflation closer to 2% before cutting interest rates. The last CPI report reflected an uptick in inflation to 3.2%, away from The Fed’s target and the likely reason why odds of a rate cut are so low. ...

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