Traders,
Given:
SPX (SPY) is used as overall market index.
Noteworthy:
Expectations:
Instrument:
Given:
SPX (SPY) is used as overall market index.
- FED remains the primary determinant for overall market movement.
- All major indices pulled back last week.
- SPY failed to reach its 100DMA in the pull back.
- QQQ overshot its 100DMA in the pull back.
- GDP reports Thursday Pre Market.
- PCE, Personal Income & Spending reports Friday Pre Market.
- Iran / Israel situation has cooled
- US Govt approves add'l Iranian Oil sanctions.
Noteworthy:
- QQQ down ~8% peak-to-trough (P2T)
- SPY down ~6% P2T
Expectations:
- Earnings based movement for individual stocks.
- Indices range Up / Down towards respective 100DMA pending additional insights into potential fed behaviors in June.
Instrument:
- NA
