On track to test last weeks highs of 342+, $SPY is sitting at its PM highs throughout most of today’s session; so far. There’s been plenty of play along the way, with a few false gap fills this morning; but it is still early. Last weeks highs will be a decent test to see how this selling may unfold.
The market continues to be a bit choppy today; ever since the selling began, we’ve been seeing some funky market behavior. $SPY sits at the top of its 7-day range, looking to catch those eager to buy the breakout; slow down, there will be plenty of time for that.
The market headlines are quite monotonous today, so there is no need to elaborate on any of the nonsense. We’re keeping this short and sweet today.
Sectors are trading in a 10/1 bull split with RE riding the top spot in the midday session, trading up +2.08%. Financials find themselves trading alone in the red, trading down -0.71%.
Our top 10 Smart Money Movers are:
$SGMS trading up over 12%
$APPS trading up over 11%
$NVTA trading up over 8%
$GSX trading up over 6%
$SQ trading up over 8%
$ROKU trading up over 4%
$MRNA trading up over 4%
$RCL trading down over 3%
$OSTK trading down over 5%
$MDLA trading down over 5%