4/22 Weekly Index Outlook - Journal

22 апр.

Traders,

Given:

SPX (SPY) is used as overall market index.

• FED remains the primary determinant for overall market movement.
  
• All major indices pulled back last week.
  
• SPY failed to reach its 100DMA in the pull back.
  
• QQQ overshot its 100DMA in the pull back.
  
• GDP reports Thursday Pre Market.
  
• PCE, Personal Income & Spending reports Friday Pre Market.
  
• Iran / Israel situation has cooled
  
• US Govt approves add'l Iranian Oil sanctions.
  

Noteworthy:

• QQQ down ~8% peak-to-trough (P2T)
  
• SPY down ~6% P2T
  

Expectations:

• Earnings based movement for individual stocks.
  
• Indices range Up / Down towards respective 100DMA pending additional insights into potential fed behaviors in June.
  

Instrument:

• NA