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SPY ETF: Market Broke Our 277

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We called out that if the S&P 500 ETF (NYSEARCA:SPY) broke 277 you'd have more downside. Today's fast move through 277 could be confirmation of a down move coming in the market.

Yesterday we also called out some weak action on some decent news. The market showing weakness on good news can be a sign of a peak.

This is the first decent sign of a technical break since this up move began in late December.

We have the all important Non-Farm Payrolls report coming tomorrow morning. ADP came inline with estimates this week. Either way with the market pointing down for the first time the risk/reward is moving to the downside maybe whatever tomorrow's report brings.

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SPY ETF: More Good News, Bad Action

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The S&P 500 ETF (NYSEARCA:SPY) traded down all day despite having good news.

President Trump was reported to decide he needs a trade deal to boost the market to get reelected.

ADP reported another strong jobs report today. It was slower than the last couple of months but inline with expectations. ADP can be a precursor to the NFP report coming on Friday. NFP is a market mover.

Lastly the Fed's John Williams said that he expects rates to remain low. One negative may be that he called out a coming period of slower growth.

Frankly we see the SPY ETF having risk to turn down here. It needs to move up in the next day otherwise the gravity after a long long long move higher, is down.

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Here's what subscribers are saying,

"The market is flat for this year and I am up over 50% in my account, thanks to Chaim!"

"Chaim, You have called it better than anyone I know over the last few months."

"GREAT RESULTS CHAIM!”

Try with a…

SPY ETF: Close Below 277 Look Out

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An S&P 500 ETF (NYSEARCA:SPY) close below 277 and we have further risk to the downside. Today's a day without much bad news but a sharp move out of nowhere needs to be listened to.

Add to that we just closed topside of 280 and quickly reversed. Stocks that led the market on the way up in the cloud/software space are down big maybe with earnings news mostly behind us.

Trade news may sound good but short term the conclusion just gets pushed out to the end of March. So traders may be selling positions they took hoping for a conclusion by now and reload as we approach month's end.

In the meantime the SPY ETF above or below 277 will help to tell you what the market wants to do next.

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Here's what subscribers are saying,

"The market is flat for this year and I am up over 50% in my acc…

SPY ETF Good News, Bad Action

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The S&P 500 ETF SPY (NYSEARA:SPY) has been up huge this year. Today was the first day in a while we had trade news and the market didn't react positively.

Good News Bad Action

When you see the market or a major ETF like SPY not go up on good news you have a hint of "negative action."

Action is a trader's signal what the market does versus what you'd expect. When the market does something other than what you'd expect you have a cue that there may be another unidentified offset.

That offset could be simply traders setting up to sell the news. There are of course other fundamental issues out there like a slowing macro, due in part to the trade war.

Sell The Trade News?

Since the SPY ETF is already up huge and is looking peaky, we may be about to see a sell the news event if a trade deal is struck.  The worst case would be if no trade deal is struck yet traders have been gearing up to sell the "good" news. If there was no "good" news that c…

SPY ETF: Uh Oh, Jobs

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Jobless claims seem to be moving back up. Jobs are probably the most important economic datapoint for stocks.

That chart to the left means more people are out of work. That's not something you hear about in a bull market. It's a change.

If the S&P 500 ETF (NYSEARCA:SPY) breaks 273, I think we're headed to 270.

I hated yesterday's weak close too. I don't like today's whippiness either.  Something may be changing out there.

After a huge run and some market dynamics in motion, we advised to hedge out.

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We're speaking to numerous tech companies every quarter and helping our subscribers time and size the stocks and stock market.

Try with a 14 day free trial, Click here.

Here's what subscribers are saying,

"The market is flat for this year and I am up over 50% in my account, thanks to Chaim!"

"Chaim, You have called it better than anyone I know over the last few months."

"great work Chaim! rock star ur a rock star!”

SPY ETF Holding 274, Going To 280

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If the S&P 500 ETF SPY (NYSEARCA:SPY) holds above 274 we think it's headed to 280, the next level of key support/resistance.

So far we called that the market should go higher each step holding above 265, 270, and now 274. After 274 we don't see a key level until 280.

I would guess the market can get excited for the potential of a month end trade deal. That can help us get to 280 first stop and then we'll assess from there.

Two Week Free Trial

We're speaking to numerous tech companies every quarter and helping our subscribers time and size the stocks and stock market.

Try with a 14 day free trial, Click here.

Here's what subscribers are saying,

"The market is flat for this year and I am up over 50% in my account, thanks to Chaim!"

"Chaim, You have called it better than anyone I know over the last few months."

"great work Chaim! rock star ur a rock star!”

Try with a 14 day free trial, Click here.


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