S&P 500 (SPY) Report – 8/26/22

Good morning traders!

The S&P 500 ($SPY) is trading above yesterday’s close. Let’s get into it…

Fed Chairman Jerome Powell is scheduled to speak at 10 a.m. ET at the Federal Reserve’s annual Jackson Hole, Wyoming, conference. Powell is expected to share his thoughts on rate increases and inflation. We advise everyone to size down, and trade with caution as the market could go either direction very quickly.

In the news, the list of things that customers are abandoning on store shelves now includes computers. The consumer electronics crisis got worse when Dell Technologies lowered its prediction for the beginning of the fiscal year in January 2023. Nvidia also issued a warning that this quarter’s revenue will fall around $1 billion short of expectations due to a decline in demand from PC gamers for its graphics cards, which are also used for cryptocurrency mining. Shares have decreased 41% so far this year.

Potential Intraday Resistance Levels:
200D SMA: (1HR): $420.55

Potential Intraday Support Levels:
EOD VWAP: $417.13
Intraday Support: $417.00

Note: Moving averages are reported from the previous trading session and will change during the next trading session. 

Friday Economic Events:
Int. Trade in Goods 8:30am ET
Personal Income and Outlays 8:30am ET
Wholesale Inventories 8:30am ET
Consumer Sentiment 10:00am ET
Baker Hughes Rig Count 1:00pm ET

Fed Speaker Scheduled:
Raphael Bostic 8:00am ET
Jerome Powell 10:00am ET – High Volatility Expected 

 

DailyBubble’s Disclaimer
This article provided by the DailyBubble team should only be considered as informational and/or entertainment by the reader. DailyBubble makes no representation to buy or sell any security or financial instrument within the article. Readers seeking investment advice should seek independent financial advice from a professional, and independently research and verify. The DailyBubble team wrote this article and may express its own opinions therein.

Related Articles

Subscribe
Notify of
guest
2 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
gate io borsası
gate io borsası
11 months ago

I am an investor of gate io, I have consulted a lot of information, I hope to upgrade my investment strategy with a new model. Your article creation ideas have given me a lot of inspiration, but I still have some doubts. I wonder if you can help me? Thanks.

gate borsası
gate borsası
11 months ago

I am an investor of gate io, I have consulted a lot of information, I hope to upgrade my investment strategy with a new model. Your article creation ideas have given me a lot of inspiration, but I still have some doubts. I wonder if you can help me? Thanks.