The whole week spy has been pretty choppy but managed to stay above the critical 416.32 support. If bulls manage to keep it above that level, we may get to see SPY fill that gap to the upside.
The critical level SPY needs to pass is 420. If it doesn't I suspect we will see this choppy market continue and spy will likely trade between 416.32 and 420 until it breaks to the upside or downside.
We saw good earnings by companies only to sell off (AMD, AAPL, AMZN for example). I think we will likely see more selling on good earnings and remain choppy until earnings season is over.
Just some quick thoughts.
The critical level SPY needs to pass is 420. If it doesn't I suspect we will see this choppy market continue and spy will likely trade between 416.32 and 420 until it breaks to the upside or downside.
We saw good earnings by companies only to sell off (AMD, AAPL, AMZN for example). I think we will likely see more selling on good earnings and remain choppy until earnings season is over.
Just some quick thoughts.