SPY on Its 200-Day, CPI Tuesday, Cisco and Applied Thursday
Issue 3, for the week of November 9
SPY, daily, six months to Nov 6. The 200-day 730.38, Thursday's low 732.71, weekly pivot 747.88 (the average of last week's high, low and close), weekly S1 720.12, and the Jun 26 low 716.58, the lowest print on this chart.
Hey all. Last week was the kind you want to forget and shouldn't. The election rally on Wednesday lasted exactly one day, Thursday took it all back and then some, and QQQ finished the week down 5.0% with the chip fund (SMH) down 11.2%. SPY ended Friday sitting a few dollars above its 200-day moving average, which is the one line on the chart it hasn't closed under since at least May.
Read this week's issue