Greetings fellow traders and welcome to your April 27th edition of Weekly Wisdom: Levels to Know and Moves to Look For!
Let’s get to what we’re currently seeing in these crazy markets and what we have our focus on going forward.
Via Goldman Sachs: “Systematic Macro Global Equity Position Rises to Highest Since 2022: Goldman Sachs”
$SPY pulled back a bit this week with $VIX finally giving a green day on a rally toward 20 resistance – however $META and $MSFT have done their best to save the market from any further downside, so far… $AMZN and $AAPL are still to report.
$SPY weekly chart continues to consolidate in a bullish way after the large up move from March. April has been more or less a month of range and chop. With this rough $SPY range between 405 – 415, a real break and close over or under those levels could send us toward either 425 or 395.
*As of 2:36pm ET April 27, 2023
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