The Business End, 30th January 2023
🖼 Daily Technical Picture 📈
➤ We've come to the end of January and it is going to be one of the busiest of the year. Interest rate decision, major earnings and key economic data combine. Add on to the important technical levels for the S&P500, you can see why we really are at the business end of things.
➤ There is time for the S&P500 to close above the monthly highs of recent months. That should cement the Bullish enthusiasm. If not, we will have to see if the market can do so at the end of February.
➤ Some selling came at the end of the session Friday. This may just be profit-taking but I can sense a certain hesitation since we are at key levels straddling 410 on the SPY.
➤ I currently hold no position.
➤ Conclusion: I'm hoping to get into the action with the expected volatility.
➤ We've come to the end of January and it is going to be one of the busiest of the year. Interest rate decision, major earnings and key economic data combine. Add on to the important technical levels for the S&P500, you can see why we really are at the business end of things.
➤ There is time for the S&P500 to close above the monthly highs of recent months. That should cement the Bullish enthusiasm. If not, we will have to see if the market can do so at the end of February.
➤ Some selling came at the end of the session Friday. This may just be profit-taking but I can sense a certain hesitation since we are at key levels straddling 410 on the SPY.
➤ I currently hold no position.
➤ Conclusion: I'm hoping to get into the action with the expected volatility.
🏆 eToro Popular Investor 💰
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
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