Woolcum,
News:
Things are flat starting off today in perhaps a continuation of the small morale boost yesterday. We expected the step up yesterday and it is slowing off that move for now. I don’t see there being a whole lot of strength heading towards CPI data we probably see a similar event to the lead up to the Fed minutes this week.
Watchlist:
NVDA seems to be on the decline again and I expect it will be a loser if spy does start falling off.
SPY:
Finished green yesterday and is flat in pre market. Shouldn’t be a high volatility day, there is fear in the market but most of it is driven by uncertainty than by panic which is a very good thing for us all. Watch for support point tests in spots like 448.60 and 446. I doubt we get alot of upward movement without major news change, honestly today looks like a great day for the 2% gains on options a day challenges.