Market opened morning trading session with fairly stable sentiment amid disappointing financial report from Goldman Sachs but opposite from Morgan Stanley. Google, Meta and Amazon lift NASDAQ ahead of concerns about 2023 outlook from analysts. Meanwhile, money flow continues quite mixed on extremely low liquidity backdrop, pulling SPY up to touch call wall 400 before starting exhaustion state and pulling back to move below call wall. Level 400 continues as key overhead resistance until this week's OpEx that SPY unlikely to break through today and tomorrow.
With Morgan Stanley being the bank with good ER in the morning, below are some comments from MS Research on the market. At level 400 and above, SPY continues in long-term downtrend:
Comments (0)
No comments yet
Be the first to comment
Login to comment