Greetings fellow traders and welcome to your December 1st 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.
St Louis Fed Financial Stress Index
This is something Fed Member Bullard looks at when determining if the environment is bad enough to begin cutting rates… no stress to be seen here yet
SPY gives a huge candle to break out over 400 and the 200SMA. Bulls now need to hold and build off of this 400 break out.
SPY weekly candle with a fantastic week, but approaching the big downtrend line from highs this year with 4100 being hard resistance. Are the Powell fireworks going to be enough for bulls to break through this trendline?
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*As of 12:00pm ET December 01, 2022
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