Big Week on Tap

February 12, 2023
February 12, 2023 Ryan

Big Week on Tap

Are we at the end of another bear market rally similar to what we’ve experienced numerous times sine early 2022. Or, is a long-side reversal still in the cards?

In January, we printed the second shoulder of an inverted head and shoulder, resulting in a bull move in SPY above the descending trendline. The bulls roared.  However, last week the market took a hard reversal at horizontal resistance and here we are – do we move above resistance or resume the move down?

The next 5 days will be flooded with market data and I’m not comfortable.  I could be totally wrong, but I took most of my positions off of the table last week.  Regardless of the direction, I’m happy with taking the profits. I’ll limp back in this week if short-term overselling takes place, but who knows.  Let’s see the data.

SPY Daily

Inflation will take center stage on Tuesday and the street is looking for a 7th monthly decline.  All hell will break loose if it’s 6.5% or above.


This week will be packed full of market shaping data and as a 50 year old investor, I have to preserve capital more than gamble.  Don’t risk more than you’re willing to lose. Trade’em well.


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