Greetings fellow traders and welcome to your November 17th 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.
Although credit card delinquencies remain near record lows, this is something I’m keeping in the back of my mind as a possible recession seems to be the theme heading into 2023.
SPY gives some fantastic follow-through, which we were looking for last week, up to a high of 402! Some backing and filling going on now is healthy in a bigger-picture uptrend.
Huge weekly candle last week for SPY! Giving bulls a higher high to confirm the higher low from two weeks ago. 410 looks to be hard resistance.
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*As of 11:30am ET November 17, 2022
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