The run-up into the $SPY ATH’s, turned out to be a bit of a dud to wrap up this weeks session. The ETF made an eventful bounce off Tuesday’s selloff, only to fizzle out just shy of ATH’s (for now).
These types of moves brings down the guard of shorts looking to maul the backside. It’s the carrot dangling in front of the horses mouth. Fall for the Streets games and get kicked to the curb.
$SPY is fighting PM highs in the midday session, going from green-to-red-green… it’s Friday, it’s August; enough said.
Chinese correlated securities are continuing to get hit with the tension between U.S. and China; expect more headlines to get released this weekend. But you already know how we feel about all that; we can careless – they’re just words on the screen, nothing more.
Trade your own ideas and avoid the typical market pitfalls from following the media; period, full stop.
Sectors are trading in a 7/4 bull split with RE running the bull show, trading up, +0.75%. While Utilities wraps up the bottom for the bears, trading down -0.60%
Our top 8 Smart Money Movers are:
$DDS trading up over 13%
$FTCH trading up over 10%
$MRNA trading up over 3%
$AMZN trading down over 1%
$AAPL trading down over 1%
$BIDU trading down over 6%
$NOVA trading down over 11%
$GSX trading down over 14%