The S&P 500 (SPY) has seen followthrough to the downside after last Friday's nasty sell side activity. Into the remainder of the week we are looking for continued bearish pressure, but aren't convinced now is the time to get short in the hole. Instead wait for a bit of a push higher. Breaking 399.5 sets off a SMALL squeeze from shorts late to the party.
The NASDAQ aka QQQ is already at its critical support and needs to hold this area or risks breaking down further.
Russell 2000 and small caps are signaling RISK OFF, to neutral.
We also look at trade ideas in RIVN, LCID, MO.
If you're a day trader looking to make fast money online this stock market analysis has you covered! Keep these areas of support and resistance in mind, as well as any technical patterns, before taking on the rest of the day trading week.
Going into the trading day with a plan is important and will give your trading the edge you need to be a successful retail day trader. This S&P500 analysis will give you that edge.
Instead of looking at stock market news and googling 'stocks to trade today' or best options to buy today, every Monday morning, technical analysis makes our job a lot easier. A quick glance at the stock chart can tell us where to expect buying and selling battles.
DISCLAIMER: The information provided in this video is for informational purposes only. It should not be considered financial or legal advice. I am not a Registered Investment Advisor. Buying and selling financial instruments is highly speculative and carries risk.
