Posted in Technical Analysis
By: Tom Gentile on January 28th, 2022 • 1 min read
Stock What Happens Now That We Are at Support Can Make or Break the Markets
I am using the charts on the SPY which is an ETF that tracks the S&P500 ETF SPX, and I am also using a chart on the “Diamonds” (DIA) which is an ETF that tracks the Dow.
I am doing this to highlight they are both technically testing price support. I would show the QQQ aka the Q’s which tracks the NADAQ 100 index, but it has already broken key support and tech has a bunch of concern to overcome but may get pulled up by the potential bullish bounce in the other indices OR if money flows back to tech that pulls the markets higher.
Support Needs to Hold, or Things Could get Uglier
App: Toms Option Tools
Market Insight articles may show images of lists of stocks meeting a variety of options parameters like Unusual Call and or Put activity or Expensive IV found on my app Toms Option Tools.
Other times I will have other charts may work to amplify my educational points.
Those options data lists, however, can be found on my app Tom’s Option Tools. Use your device to search up and download this app and get free access to the Morning Reports section of the app.
Other parts of the app are available at a premium subscription rate, but the Morning Reports Lists are yours free.