SPY $500 In Sight

February 8, 2024
Author: Peter Stolcers, Founder of OneOption

The news is light and this psychological level will act as a magnet. Day trade from the long side, but keep your swing trades light. The market is due to compress or dip.

PRE-OPEN MARKET COMMENTS THURSDAY – The SPY is within striking distance of $500 and it wants to go there. The news is light so there is nothing to stand in the way. That is a psychological resistance level and after a big rally the market is due for a pause.

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