SPY breaks key resistance with momentum

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After the cpi report SPY went from selling off dramatically in the morning to turning around rallying with strong momentum and volume.

  • CPI report brought a lot of volatility to the market today
  • SPY started selling then turned around quickly to break resistance
  • We note the increasing volume as the rally continues
  • The final period did end with rather undecided candle giving a sense of pause to direction it may go tomorrow
  • The strong volume on final period does indicate price exhaustion, we may experience pull back tomorrow.


Multiple down beaten stocks from previous sell off trend are now experiencing a massive rally breaking their trend and reversing to the upside.

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