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4/22 Weekly Index Outlook - Journal

SPDR S&P 500 ETF TRUST (BATS:SPY)  
WillNixTrading  
BATS:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns Fundamental Analysis SPDR S&P 500 ETF (SPY) QQQ S&P 500 (SPX500) NASDAQ 100 CFD
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trendanalysis chartpattern fundamental spy qqq spx500 nas100
Traders,

Given:

SPX (SPY) is used as overall market index.

  • FED remains the primary determinant for overall market movement.
  • All major indices pulled back last week.
  • SPY failed to reach its 100DMA in the pull back.
  • QQQ overshot its 100DMA in the pull back.
  • GDP reports Thursday Pre Market.
  • PCE, Personal Income & Spending reports Friday Pre Market.
  • Iran / Israel situation has cooled
  • US Govt approves add'l Iranian Oil sanctions.

Noteworthy:

  • QQQ down ~8% peak-to-trough (P2T)
  • SPY down ~6% P2T

Expectations:

  • Earnings based movement for individual stocks.
  • Indices range Up / Down towards respective 100DMA pending additional insights into potential fed behaviors in June.

Instrument:

  • NA

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