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Weekly Market View 8-15-22

The SPX closed at fresh 3 months highs to finish the week at 4280 and above the 50% retracement level and YTD VWAP key zone on the futures. The market will enter August options expiration week on a strong note, but positive gamma is likely to give an early week follow...

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Weekly Market View 8-8-22

The SPX closed slightly higher for the week by +0.35% and stayed in a narrow range most of the week while many single stock names made explosive moves. The market continues to see dips being bought and the 8 EMA held this week near 4100 while the 21/55 EMA showed a...

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Weekly Market View 8-1-22

The SPX closed the week strong +4% and into new 2-month highs above 4125 as earnings reports surprised positively and the FOMC rate hike was received well. The Ukraine invasion low from February at 4116 is now retested and potential for some resistance to form in this...

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Weekly Market View 7-18-22

The SPX closed the week down about -1% but rallied well off the midweek lows to close Friday back above the 21 EMA just slightly. A crucial level for stabilization in the market as bad news continues to see dip buyers emerge and keep prices above the 3750 large...

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Weekly Market View 7-11-22

The SPX closed the week higher and pinned right at 3900 after regaining the 8/21 EMA’s on a closing basis for two consecutive days. The Nasdaq led the advance as tech growth names showed outperformance and the QQQ index got above its late June highs slightly. The...

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Weekly Market View 7-5-22

The SPX closed the week lower by back above the 3800 key level short term. With Fridays move higher back to the 8 EMA a potential higher low is trying to form but will need to confirm with a close above the 21 EMA next week and preferably a higher high above 3950. The...

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Weekly Market View 6-27-22

The SPX closed higher by 6% on the week and about half of that move came on Friday to close the week with a sharp rally into 3900. With prices closing back above that level, it’s back to a tricky spot as quarter end nears but using the 8/21 EMA as a road map for short...

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Weekly Market View 6-21-22

The SPX fell 6% on the week with the post FOMC day rally being faded after Wednesday tested up to 3840 but was unable to trade into the gap overhead into 3900. Prices attempted a Friday OPEX rally with growth names stronger to close the week, but the SPX closed back...

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Weekly Market View 6-12-22

The SPX closed -5% for the week and much of that drop was in the last few hours of Thursday and into Friday’s big CPI report miss. The tight range between 4075 and 4175 broke to the downside ahead of next week’s busy schedule of the FOMC meeting on Wednesday along...

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Weekly Market View 6-6-22

The S&P (SPX) finished -1.2% in the holiday shortened week and was one of the smaller range candles seen in recent months. The S&P is staying above its 8- and 21-day EMA’s as it digests the prior week’s large advance. 4100 is a key level that was retested this...

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