S&P 500 (SPY) Report – 9/16/22

Good morning traders! 

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

President Biden issued an executive order to increase the federal government’s ability to block foreign investments from nations like China that endanger supply chain stability or technology. Additionally, it seeks to protect Americans against foreign monitoring, tracking, and targeting of their private information.

In the news, speaker of the U.S. House of Representatives Nancy Pelosi said during a (G7) gathering in Berlin that Ukraine must win over Russia. “It is my privilege to join my G7 colleagues in Germany to discuss our ongoing and unified response to Russia’s unlawful, unjustified war against Ukraine,” Speaker Nancy Pelosi said. “Since Putin launched his brutal and illegal assault on Ukraine, America and our allies and partners have worked with historic coordination, strength, and speed to impose devastating consequences on Russia including with sanctions and to deliver economic, security, and humanitarian assistance to Ukraine. At this year’s G7 Speakers’ Summit, we will reaffirm that our shared and unwavering commitment to the Ukrainian people will endure until their victory is won.” Pelosi said.

Potential Intraday Resistance Levels:
9/15/22 Low of Day: $388.78
Pre-Market Resistance: $386.10
Pre-Market Resistance: $385.80

Potential Intraday Support Levels:
7/18/22 Low of Day: $ $380.66

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

Friday Economic Events:
Consumer Sentiment 10:00am ET
Baker Hughes Rig Count 1:00pm ET
Treasury Int. Capital 4:00pm ET

Fed Speaker Scheduled:
No Fed Speakers Scheduled

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