Greetings fellow traders and welcome to your March 2nd 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.
US Economic data has remained on the strong, “hot”, along with inflation, giving markets quite a tug of war to deal with.
$SPY with a strong retake of last week’s low of $393.50. Bears are still somewhat comfortable as long as $SPY remains below 401.
$SPY briefly lost last week’s low of 393.50 but was able to reclaim the level as $VVIX remains weaker overall.
*As of 4:00pm ET March 3, 2023
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