SPY ETF: More Good News, Bad Action

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.

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 RESULTS CHAIM!”

Try with a 14 day free trial, Click here.



All investments have many risks and can lose principal in the short and long term. The information provided is for information purposes only and can be wrong. By reading this you agree, understand and accept that you take upon yourself all responsibility for all of your investment decisions and to do your own work and hold Elazar Advisors, LLC, and their related parties harmless. We have no holdings in the stocks mentioned unless otherwise noted.

Comments

Contact Us

Name

Email *

Message *

Popular Posts

AMD Not Affected By Intel's Latest Spectre NG Flaw

Our $1000+ Tesla Target Was Way Too Low