Market Bias & Favorite Ideas - 9/29/2022
Market Bias: Chop.
Favorite Ideas: Long - FCX, AA, PLTR, CENX. Short - KMX, RAD, STLA, STM, AMPS
The SPY looks like it may just chop around and have an inside day. There is a lot of support below and lots of selling pressure above. It is tough to say which direction this will go but if I had to lean to one side it would be bullish. This market still has not corrected from the recent move lower so it should continue to that via price (bullish) or time (chop).
Favorite Ideas: Long - FCX, AA, PLTR, CENX. Short - KMX, RAD, STLA, STM, AMPS
The SPY looks like it may just chop around and have an inside day. There is a lot of support below and lots of selling pressure above. It is tough to say which direction this will go but if I had to lean to one side it would be bullish. This market still has not corrected from the recent move lower so it should continue to that via price (bullish) or time (chop).
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