Yesterday, the US Supreme Court decided that states could require online companies charge taxes, which caused major tech companies to tumble, which in turn, effected the tech heavy NASDAQ. This index bled through to the others, and it was a down day in stocks world wide.
Today, we have Trump threatening tariffs yet again, which caused a small hiccup in stocks and uptick in bonds, but this was short lived. Bull momentum in stocks seems to have resumed, and these events have provided a nice entry opportunity for us.
Both Kovach Momentum Indicators are bullish which tells us to go into BTFD mode. We have strong support from central moving average of the Kovach Reversals Indicator, which is another strong sign.
Fibonacci levels indicate that $276 is a good target for SPY.
Today, we have Trump threatening tariffs yet again, which caused a small hiccup in stocks and uptick in bonds, but this was short lived. Bull momentum in stocks seems to have resumed, and these events have provided a nice entry opportunity for us.
Both Kovach Momentum Indicators are bullish which tells us to go into BTFD mode. We have strong support from central moving average of the Kovach Reversals Indicator, which is another strong sign.
Fibonacci levels indicate that $276 is a good target for SPY.
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