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SPY: Bullish, 200 Day And Fed Flipping

Updated: Feb 15, 2023

Annual Technical Bias: (SPY 200 day): Inches away.

Monthly Technical Bias: QQQ 263, Above

Weekly Technical Bias: Up

Next Day Technical Bias: Up

EPS Fundamental Bias: Down

Fed Fundamental Bias: Up

Overall Medium Term View: Bullish

Overall Short Term View: Bullish

I said on Thursday night I was very bullish. We had a nice move up on Friday.

You saw the market stalled when we called out the market overbought about a week or so again, but when I pointed out overbought washed away it allowed the market to start to move up all over again. And Thursday with a Brainard flip and technicals looking up I think a lot was in alignment to be very bullish which I called out 'very bullish' in that Thursday night update a couple of times.

The Fed is making big changes in communications. Their hawks are turning. Yes we've been expecting this but it's happening real-time. So nice.

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