S&P 500 (SPY) Report – 6/16/22

Good morning!

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

Following the Federal Reserve’s highest interest rate rise since 1994, the SPY traded higher in a volatile session on Wednesday. Since yesterday’s close, the SPY has fallen about -2.4% pre-market, making new YTD lows. Another 0.75 percent rate rise is expected at the next Fed meeting in July, according to Fed Chair Jerome Powell. We advise everyone to size down, and trade with caution as the market could go either direction very quickly.

Potential Intraday Resistance Levels:
6/16/22 Close: $379.20
6/16/22 EOD VWAP: 378.33
5D EMA (1Y:1D): $384.25

Potential Intraday Support Levels:
6/16/22 Pre-Market Low: $369.44
Important Levels: $365-360

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

Thursday Economic Events:
Initial Jobless Claims 8:30am ET
Housing Starts and Permits 8:30am ET
Philly Fed Mfg Index 8:30am ET
EIA Natural Gas Report 10:30am ET

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.