SPY: Bullish, 200 Day And Fed Flipping
Updated: Feb 15
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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