$SPY kicked off the early PM session deep in the red. After yesterday’s Powell conference, the boys took the ETF down south and continued the selling into the first 30-minutes of today’s session.
They brought $SPY back down to last week’s demand zone, then printed the reversal into the midday session. Still red, the ETF is working its way back to PM highs.
The run up into yesterday’s close was a clear set-up for this morning’s action. You know how they do it; learn from the moves and avoid the traps.
There’s chatter on Trump trying to push this year’s election back a bit; for obvious reasons. Whether it occurs or not, the rumors will certainly reflect in market prices throughout the rest of the summer. With each Tweet – comes a tsunami of participants flooding to chase his wave. It’s comical to watch the highly predictive nature of market sheep.
Do you, block out the noise and leave the b.s. for everyone else. That’s trading self-sufficiency.
Sectors are bleeding today from A-Z. Consumer Discretionary is taking the lightest hit; trading down -0.19, while Energy is getting smoked; trading down -4.08%.
Our top 10 Smart Money Movers are:
$MTSI trading up over 17%
$UPS trading up over 16%
$QCOM trading up over 12%
$QRVO trading up over 9%
$PYPL trading up over 5%
$ADP trading down over 3%
$CVX trading down over 4%
$LLY trading down over 5%
$BAX trading down over 6%
$PI trading down over 16%