π S&P 500 Flirts With a Breakdown
Look out below if SPY is below 740.
π Daily ETF Overview
It's no surprise to see the Nasdaq 100 $QQQ leading our U.S. index table.
Though the bigger story to watch here is how the S&P 500 $SPY responds to this major level of interest. Right now, SPY is currently trading at the 161.8% extension of this most recent decline.
We saw some weakness come in today, before it quickly reversed.
If the S&P 500 is below 740, that would signal further downside in the short term.
Most traders get chopped to pieces in the summer because they're swinging and holding overnight while the algorithms run the tape.
Kenny's hosting a free live training on Tuesday, June 9th to walk through the exact 1-minute VWAP setup he uses to catch intraday moves and step away by lunch.
