$SPY
Core PCE which is the Fed's favored methods in evaluating inflation just hit the wires and came in softer than expected, but still above the Fed's ideal. T&S is reflecting that pre-market traders are enjoying the news, albeit on low volume. It is the end of the quarter heading into the weekend so todays price action will be important, lets take a look at some levels
The majority of yesterdays darkpool action occurred below the bid, the areas with the most significant orders occurred at 401.27 & 403.64, we will look at these as local supports. bulls need a break above 409, bears need a break below 400.
these are the potential scenarios I will look for today:
long:
- break above PM high, retest & hold
- dip to yday's darkpool prints & hold
short:
- pop to PM high & fail
- break below yday darkpool prints, retest & fail
resistances: 405.22, 407.20, 409
supports: 403.64, 401.27, 400, 398, 396.62,393.69
The majority of yesterdays darkpool action occurred below the bid, the areas with the most significant orders occurred at 401.27 & 403.64, we will look at these as local supports. bulls need a break above 409, bears need a break below 400.
these are the potential scenarios I will look for today:
long:
- break above PM high, retest & hold
- dip to yday's darkpool prints & hold
short:
- pop to PM high & fail
- break below yday darkpool prints, retest & fail
resistances: 405.22, 407.20, 409
supports: 403.64, 401.27, 400, 398, 396.62,393.69
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.