By: Tom Gentile
on August 25th, 2022
The markets are anticipating what Fed Chair Powell has to say about their plans (continued or new) to combat the high inflation environment we are in and will his commentary be of the Dovish, or the more anticipated Hawkish type.
The markets have had a nice bullish run off the June lows, but that movement is anticipated by many to just ne a bear market rally. Which means, while the bulls had a nice run, the move may be over and a rollover to those June lows are expected.
It’s anticipated by those you listen to on the financial news networks that where the market goes is dependent on what we hear from the Fed Chair when he speaks at the Jackson Hole economic symposium tomorrow.
The chart above shows the SPY and we’ve highlighted the horizontal resistance line that should it be cleared to the upside would bring anticipation of the bullish run to continue.
The recent pivot low is a minor support that if broken could bring about lower prices to come.
The ascending support line is already broken to the downside which may mean the slide is already in progress.
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.