Market Bias & Favorite Ideas - 9/28/22
Market Bias: Bull chop
Favorite Ideas: Long - LLY, SAVA, NFLX, JNJ. Short - AAPL, SAND, MT, QCOM, TSM
The SPY is at resistance near the 360 area which has held the past three days as well as back in mid June. I think it is more likely that we get a bounce before breaking down lower. The bounce will not be smooth however as 370 has been sold into heavily for the past two days. The SPY looks higher in the pre market. Be careful off the open and let the market show you its hand.
Remember, Money Management is your #1 job!
Favorite Ideas: Long - LLY, SAVA, NFLX, JNJ. Short - AAPL, SAND, MT, QCOM, TSM
The SPY is at resistance near the 360 area which has held the past three days as well as back in mid June. I think it is more likely that we get a bounce before breaking down lower. The bounce will not be smooth however as 370 has been sold into heavily for the past two days. The SPY looks higher in the pre market. Be careful off the open and let the market show you its hand.
Remember, Money Management is your #1 job!
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