Earnings Need To Push the Market Higher

October 24, 2022
Author: Peter Stolcers, Founder of OneOption

If the SPY can't close above $380 this week it is a bearish sign.

PRE-OPEN MARKET COMMENTS MONDAY – The market has bounced off of the low of the year and there is some optimism as earnings season kicks into high gear this week. SPY $380 is a resistance level that we need to convincingly close above this week. If we are unable to, the earnings excitement will wane after the tech giants report and the FOMC rate hike next week will weigh on buyers.

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