S&P 500 (SPY) Report – 12/28/22

Good morning traders! We hope everyone had a great holiday break!

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

We are in a holiday market, which generally comes with lower volume. In low-volume markets, stocks can be easily manipulated and can turn against you very quickly. If you continue to trade this week, we advise everyone to scale their positions accordingly, and don’t feel obligated to be in a trade at all times; it’s all about having the right mentality and a professional approach. As we enter the new year, there isn’t much news to report; shrink down in your positions and cruise into the new year.

Potential Intraday Resistance Levels:
12/27/22 High of Day: $383.15
12/27/22 EOD POC: $382.00

Potential Intraday Support Levels:
12/27/22 Low of Day: $379.65

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

Wednesday Economic Events:
Redbook Sales 8:55am ET
Pending Home Sales 10:00am ET – High Volatility Expected
Richmond Fed Mfg Index 10:00am ET
API Crude Oil Data 4:30pm ET

Fed Speaker Scheduled:
No Fed Speakers Scheduled

 

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.

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