$SPY Testing PM Highs

California, Florida, Texas – COVID-19 cases are on the rise once again and the markets are continuing to look panicked. We saw some $SPY fear in the PM session, but the ETF reversed that sentiment shortly after the bell. Tried to break through PM highs, but printed a false BO and now prices are headed back down south once again.

Love these traps lately; they’re getting more clever as we get deeper into the summer trading session.

Bring it on!

There’s really no need to go on about unemployment numbers and COVID-19 cases, just know they’ve seen much better days. That said, how the markets react to this data remains to be seen.

Sectors are trading in a 6/5 bear split with Financials leading the bulls, trading up +1.25%. Utilities is down at the bottom for the bears, trading down -1.99%

Our top 10 Smart Money Movers are:

$ACN trading up over 6%
$SPOT trading up over 7%
$NVAX trading up over 6%
$NVTA trading up over 4%
$NBR trading up over 1%
$ZBH trading down over 4%
$TBIO trading down over 7%
$MRNA trading down over 7%
$KBH trading down over 12%
$QURE trading down over 20%

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