Greetings fellow traders and welcome to your December 8th 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.
$JPM predicts excess Covid savings will be gone by mid-2023, lining up with predictions for a recession to be in full swing around the same time.
SPY is off highs after this week’s hot ISM services data. We are back in the 390-400 range as we await further binary, market-moving data Friday morning and throughout next week.
SPY failed off 410 / the downtrend line that has marked major tops throughout 2022. Will this lead to new lows? Or will SPY be able to make a big picture higher low in due time?
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*As of 12:45pm ET December 08, 2022
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